In this paper, we propose and analyze an efficient maximum bound principle (MBP) preserving and mass conservative projection method for the conservative Allen–Cahn equation. The proposed projection operator can be proven contractive in the discrete L2 norm. Discrete MBP and mass conservation are rigorously presented for a second-order exponential time differencing scheme with a central difference discretization in space. Various numerical examples are performed to verify these theoretical results and demonstrate the accuracy and robustness of the proposed scheme.