A double-sided electroluminescent display panel and a display device are provided. The double-sided electroluminescent display panel includes: a first absorption polarization structure disposed on a first light-emitting surface of a transparent electroluminescent (EL) structure, and a first reflective polarization structure disposed on a second light-emitting surface of the transparent EL structure; wherein transmission axes of the first absorption polarization structure and the first reflective polarization structure are perpendicular to each other; the first absorption polarization structure is configured to absorb light of a first wave component and transmit light of a second wave component; the first reflective polarization structure is configured to transmit the light of the first wave component and reflect the light of the second wave component.