The invention belongs to a projection light source, a projection optical system and projection display equipment. An optical engine consists of the projection light source, a fly eye lens array, a polarized light converter, a field lens, an alignment lens, a micro lens array, an imaging device LCD screen and a projection lens. A luminous device of the projection light source is a white light power LED array, and a light concentrating element is a collector array. The luminous device, the light concentrating element, the fly eye lens array, the polarized light converter, the micro lens array and an LCD screen lamp with a CF film are reasonably designed and combined to make the projection optical engine acquire high lighting effect and high light output. Because of adopting an LED as a light source lamp, the projection optical engine also has the advantages of long service life, short response time, easy driving, no radiant heat, environmental protection, energy saving, low cost and the like. The optical engine is used as a core component, and is combined with a circuit and a complete machine structure to form a front projection and rear projection device such as a front projector or a rear projection television.