A privacy film and a display device are provided. The privacy film comprises a liquid crystal dimming cell and a first polarizer. The liquid crystal dimming cell comprises two opposed substrates and a liquid crystal layer sandwiched between the two substrates. The liquid crystal layer comprises a plurality of liquid crystal molecules, and the plurality of liquid crystal molecules have the same fixed orientation angle, and an orthogonal projection of long axes of the liquid crystal molecules on the first substrate is perpendicular to an absorption axis of the first polarizer. As such, the brightness of the display screen will not be affected when looking up from the front, and the privacy-image protection effect for decreasing the brightness of the display screen when looking up from the side is achieved.