The invention discloses a generation method and a display device of a tone characteristic look-up table. The generation method of the tone characteristic look-up table (LUT) comprises the following steps: solving for the display characteristics of multiple colors by utilizing a nonlinear interpolation algorithm based on the display characteristics of multiple specific patterns, wherein the number of the specific patterns is smaller than the product of the number of the colors and the number of the display characteristics of the colors; and modifying the display characteristics of the colors to generate one tone characteristic look-up table according to the maximum display characteristic value of the display characteristics of the colors and a target tone characteristic value. In addition, the specific patterns comprise multiple gray scale patterns which correspond to multiple orders in a one-to-one mode, and the order interval of a pair of adjacent gray scale patterns in the gray scale patterns is different from that of anther pair of adjacent gray scale patterns.