Embodiments of the present invention disclose a capacitive touch panel and a display device. The capacitive touch panel comprises an array substrate, an opposing substrate arranged opposite to the array substrate, and a liquid crystal layer disposed between the opposing substrate and the array substrate, wherein shielding electrodes, touch drive electrodes and touch sensing electrodes are disposed on one side of the opposing substrate away from the liquid crystal layer; the touch drive electrodes, the touch sensing electrodes and the shielding electrodes are insulated from one another; the touch drive electrodes and the touch sensing electrodes are arranged to intersect with each other; and orthographic projections of the shielding electrodes on the opposing substrate fall into gaps of orthographic projections formed by the touch drive electrodes and the touch sensing electrodes arranged to intersect with each other on the opposing substrate. Therefore, the orthographic projections of the shielding electrodes on the opposing substrate are not overlapped with the orthographic projections of the touch drive electrodes or the touch sensing electrodes on the opposing substrate, and hence the structure in which the shielding electrodes are directly opposite to the touch sensing electrodes or the touch drive electrodes can be reduced and the capacitance formed at directly opposite positions can be reduced, and consequently the sensitivity of touch sensing can be improved.