A vascular imaging apparatus and a vascular imaging method are disclosed. The vascular imaging apparatus (10) includes: a light source device (100), an image acquisition device (110), a projection device (130) and an image processor (120). The light source device (100) is configured to emit visible light and infrared light to a body portion to be tested (200) in a time-sharing manner; the image acquisition device (110) is configured to receive the visible light and the infrared light reflected by the body portion to be tested (200) to acquire a visible image and an infrared image respectively; the image processor (120) is configured to perform image processing on the infrared image and the visible image, to acquire a vascular enhancement image of the body portion to be tested (200); the projection device (130) is configured to project the vascular enhancement image onto the body portion to be tested (200). The vascular imaging apparatus (10) can eliminate background light of a non-vascular region by performing image processing on the infrared image and the visible image, so as to enhance contrast between a vascular region and the non-vascular region and improve the recognizability of the blood vessel.