The present disclosure discloses a folding mechanism and a display device. The folding device includes a supporting plate, a lifting plate, at least one rotatable plate, a transmission assembly, a first elastic member, and at least one pushing wheel. The supporting plate has a first surface and a second surface. The lifting plate is arranged on a side of the first surface away from the second surface. The first elastic member is provided between the lifting plate and the supporting plate. The pushing wheel is connected with the rotatable plate through the transmission assembly. Rotating of the rotatable plate from the folding position to the unfolding position causes the pushing wheel to push the lifting plate to a supporting position, and during rotating of the rotatable plate from the unfolding position to the folding position, the first elastic member enables the lifting plate to move to an avoidance position.