The invention provides a voltage compensation circuit and a voltage compensation method thereof, a display panel, and a display apparatus, and belongs to the technical field of display. The voltage compensation circuit comprises a counting unit, a voltage generation unit, a compensation voltage output unit and a power supply unit, wherein the counting unit is connected with a sequential control unit of a display panel and the voltage generation unit for counting work level output by the sequential control unit and outputting corresponding control signals according to the quantity of the work level; the voltage generation unit is connected with the compensation voltage output unit for outputting corresponding control voltages according to the control signals output by the counting unit; and the compensation voltage output unit is connected with the feedback end and the voltage output end of the power supply unit and a low-power-supply end for outputting corresponding compensation voltages to the voltage output end according to the control voltages output by the voltage generation unit.