In this paper, we propose a new color matching method between a proof and a target print by using a projection display system based on the spectral color reproduction. In this method, a color of proof is corrected by synthesizing a projection image which is calculated to minimize the color difference between each print. The radiance of the proof and the target print are calculated by using the reflectance of the prints and the radiance from the projector, and we use the method based on the XYZ tristimulus values (colorimetric method) and the spectral values (spectral-based method). We compared the color difference between the colorimetric method and spectral-based method. The average color difference ΔE*94 by using the colorimetric method was 4.00. On the other hand, the color difference used the spectralbased method was 2.13. From these results, we concluded that the spectral-based method is more effective than the colorimetric method to perform the accurate color reproduction by synthesizing the projection color and the proof.