The Sakurai-Sugiura projection method, which solves a generalized eigenvalue problem to find certain eigenvalues in a given domain, was reformulated by using the resolvent theory. A new interpretation based on the filter diagonalization was given, and the corresponding filter function was derived explicitly. The block version of the method was also proposed, which enabled to resolve degenerated eigenvalues. Two numerical examples were provided to illustrate the method. Key words: Generalized eigenvalue problem, Spectral projection, Filter diagonalization