A light source system, comprising: a light separation and combination device; at least three light sources, including: a first light source for generating a first broad spectrum light; a second light source for generating a second broad spectrum light; and a third light source for generating a first color light; and at least two spatial light modulators, including a first spatial light modulator and a second spatial light modulator; wherein the light separation and combination device is disposed on a light path of the three light sources (10, 20, 30), for separating the first broad spectrum light based on wavelength into a second color light traveling along a first channel and a third color light traveling along a second channel, for separating the second broad spectrum light based on wavelength into a fourth color light traveling along the first channel and a fifth color light traveling along the second channel, for directing the third color light, the fifth color light and at least a portion of the first color light along the second channel to the second spatial light modulator, and for directing the second color light and the fourth color light along the first channel to the first spatial light modulator; wherein the first spatial light modulator is configured to sequentially modulate the second color light and the fourth color light; wherein the second spatial light modulator is configured to sequentially modulate the third color light, the fifth color light and the at least one portion of the first color light; and wherein a spectrum of the first broad spectrum light and a spectrum of the second broad spectrum light have different spectral ranges. a light separation and combination device; at least three light sources, including: a first light source for generating a first broad spectrum light; a second light source for generating a second broad spectrum light; and a third light source for generating a first color light; and a first light source for generating a first broad spectrum light; a second light source for generating a second broad spectrum light; and a third light source for generating a first color light; and at least two spatial light modulators, including a first spatial light modulator and a second spatial light modulator; wherein the light separation and combination device is disposed on a light path of the three light sources (10, 20, 30), for separating the first broad spectrum light based on wavelength into a second color light traveling along a first channel and a third color light traveling along a second channel, for separating the second broad spectrum light based on wavelength into a fourth color light traveling along the first channel and a fifth color light traveling along the second channel, for directing the third color light, the fifth color light and at least a portion of the first color light along the second channel to the second spatial light modulator, and for directing the second color light and the fourth color light along the first channel to the first spatial light modulator; wherein the first spatial light modulator is configured to sequentially modulate the second color light and the fourth color light; wherein the second spatial light modulator is configured to sequentially modulate the third color light, the fifth color light and the at least one portion of the first color light; and wherein a spectrum of the first broad spectrum light and a spectrum of the second broad spectrum light have different spectral ranges.