A voice coil motor includes an outer shell, a fastening member, magnetic members, a base, first and second elastic members, and a movable assembly. The outer shell has a through hole defined therein and includes sidewalls surrounding the through hole. The first elastic member includes a ring-shaped first elastic portion. The fastening member fastens the first elastic member on the outer shell. The magnetic members are mounted on the inside of the sidewalls, respectively. The second elastic member is fixed on the base and includes a ring-shaped second elastic portion. The movable assembly includes a retainer wrapped in a coil of wire, the retainer is connected to the first and second elastic portions, and is movable in the outer shell under an interaction between the magnetic members and the coil of wire. A camera module using the voice coil motor is also provided.