Disclosed herein is a portable wireless terminal with a camera module, which includes a camera lens assembly installed in a main board of the portable wireless terminal, an object photographing opening formed corresponding to the camera lens assembly on a case frame of the portable wireless terminal, and a liquid crystal panel fixed in the object photographing opening and constructed so that the liquid crystal panel's brightness is adjustable by a selective application of a driving power source of the portable wireless terminal to liquid crystal of the liquid crystal panel, whereby the camera module can be efficiently used by a shutter function of the liquid crystal panel and a security function in a security zone is also provided.