A homogenizing module and a projection apparatus are provided. The homogenizing module is configured to homogenize a beam and includes an anisotropic diffuser and a homogenizer. The anisotropic diffuser is located on a transmission path of the beam. The beam has a first divergence angle in a first direction and a second divergence angle in a second direction after passing through the anisotropic diffuser. The first divergence angle is greater than the second divergence angle. The homogenizer is located on a transmission path of the beam from the anisotropic diffuser, and the homogenizer includes multiple optical elements. The size of any of the multiple optical elements in the first direction is greater than the size thereof in the second direction. The first direction is perpendicular to the second direction.