Disclosed herein are a light emitting display device which can reduce hysteresis of a driving transistor to improve picture quality, and a method for driving the same. The device includes a pixel cell formed in an area defined by a data line supplied with a data voltage, at least one scan line supplied with a scan signal, a light emission control signal line supplied with a light emission control signal, a driving voltage line supplied with a driving voltage, and a compensation voltage line supplied with a compensation voltage of a first voltage level or a second voltage level different from the first voltage level. The pixel cell includes a light emitting element for emitting light by current, and a pixel circuit for providing current corresponding to the data voltage to the light emitting element using the data voltage, scan signal, light emission control signal, driving voltage and compensation voltage.