The invention relates to a color light filter substrate and a color display device. The color light filter substrate comprises a transparent substrate, a color light barrier layer and an air exhaust layer, wherein the color light barrier layer is arranged on the transparent substrate; the air exhaust layer is arranged on the transparent substrate and encircles the color light barrier layer; the air exhaust layer comprises a plurality of stripe patterns which are arranged at intervals; one end of each strip pattern is connected with the color light barrier layer, and the other end of each strip pattern extends to a direction which is away from the color light barrier layer; and air guide grooves are formed between any two adjacent strip patterns. The color display device comprises a bottomplate, a display layer arranged on the bottom plate, and the color light filter substrate arranged on the display layer. Air bubbles are difficult to generate between the color light filter substrateand the display layer, so that the quality of the color display device can be improved.