This disclosure discloses a pixel circuit and a control method therefor, a display substrate and a display device. The pixel circuit comprises a first transistor, a second transistor, a third transistor, a storage capacitor and a light-emitting element. The pixel circuit further comprises a first sensing circuit and a second sensing circuit, wherein the first sensing circuit is connected in parallel with the first transistor, and the second sensing circuit is connected in parallel with the second transistor; a first sensing signal and a second sensing signal are respectively input to the first sensing circuit and the second sensing circuit for completing acquisition of electrical parameters of the pixel circuit according to the first sensing signal and the second sensing signal.