A projection screen includes a substrate having a projection area for a projection device to project an image onto the projection area. The projection area includes a plurality of arrayed optical regions, and each pixel of the image corresponding to the at least one optical region. Each of the optical regions includes a first optical sub-region and a second optical sub-region with different optical characteristics, such as reflective scattering, transmissive scattering, simple transmission or specular reflection. The above-mentioned projection screen with the optical characteristics of two or more, for example, can be at the same time as the front projection screen and the rear projection screen, or allows the user to watch background image behind the projection screen. A projection system including the above-mentioned projection screen is also disclosed.