An organic light-emitting diode and a display device are disclosed. The organic light-emitting diode includes an organic light-emitting layer and a first light ray adjusting layer, wherein the organic light-emitting layer is configured to generate at least first incident light and second light to enter the first light ray adjusting layer to form a first refracted light ray and a second refracted light ray respectively, and a refraction angle of the first refracted light ray is smaller than a refraction angle of the first refracted light ray. A first refractive index of the first light ray adjusting layer on a propagation path of the second refracted light ray is greater than that of the first light ray adjusting layer on a propagation path of the first refracted light ray.