The invention discloses a liquid crystal composition and an application thereof. The liquid crystal composition comprises a first component compound, a second component compound, and optionally a third component compound and a fourth component compound, wherein the first component compound is at least one of liquid crystal compounds represented by a formula I, the second component compound is at least one of liquid crystal compounds represented by a formula II, the third component compound is at least one of liquid crystal compounds represented by formulas III-V, and the fourth component compound is at least one of liquid crystal compounds represented by a formula VI. According to the technical scheme, a liquid crystal composition material with a delta n value in the range of 0.35-0.42 isprepared by mixing, a microwave phase modulation amount is improved, and a microwave wave frequency insertion loss amount is reduced (that is, the dielectric loss is reduced).