Provided are an illumination system and a projection TV employing the same. The illumination system includes: a laser light source including a plurality of lasers which emit laser beams including a plurality of beamlets; a first diffractive optical element which separates the laser beams according to wavelength and which focuses the separated beams onto different segments of a second refractive optical element; and the second diffractive optical element which focuses and superimposes a plurality of beamlets, of the laser beams transmitted by the first diffractive optical element, in order to spatially average the laser beams and to eliminate laser speckle.