Dual-mode optical imaging can simultaneously provide morphological and functional information. Furthermore, it can be integrated with projection mapping method to directly observe the images in the region of interest. This study was aimed to develop a dual-mode optical projection mapping system (DOPMS) that obtains laser speckle contrast image (LSCI) and subcutaneous vein image (SVI) and projects onto the region of interest, minimizing the spatial misalignment between the regions captured by the camera and projected by a projector. In in vitro and in vivo studies, LSCI and SVI were obtained and projected under single-mode illumination, where either the laser or light-emitting diode (LED) was activated, and under dual-mode illumination, where the laser and LED were activated simultaneously. In addition, fusion image (FI) of LSCI and SVI was implemented to selectively observe blood perfusion in the vein. DOPMS successfully obtained LSCI, SVI, and FI and projected them onto the identical region of interest, minimizing spatial misalignment. Single-mode illumination resulted in relatively clearer and noise-free images. Dual-mode illumination introduced speckle noise to SVI and FI but enabled real-time imaging by simultaneously employing LSCI, SVI, and FI. FI may be more effective for quasi-static evaluations before and after treatment under single-mode illumination and for real-time evaluation during treatment under dual-mode illumination owing to its faster image processing, albeit with a potential tradeoff in image quality.