A method of compensating for degradation of a display device includes sensing a first sensing current flowing through a sensing line connected to a pixel, which includes a programming period for writing a data voltage of a predetermined color to a storage capacitor of the pixel, sensing a sensing voltage of the sensing line, which includes a period for charging a line capacitor connected to the sensing line, estimating a voltage of an anode electrode of an organic light emitting diode using a second sensing current estimated from the first sensing current and the sensing voltage, and determining a degradation compensation value using the voltage of the anode electrode.