A polarizer and a display device are disclosed in the present application. The polarizer of the present application adopts a structure in which a liquid crystal compensation layer and a polarizing layer are stacked on each other, and the liquid crystal compensation layer is used to compensate the birefringence of the liquid crystal molecules in the liquid crystal layer, and the liquid crystal compensation layer adjusts the compensation value by the refractive index difference of the liquid crystal molecules and the thickness, so that the adjustment range is wide, and the adjustment range may be matched with the high phase difference of the display device, thereby improving the side-view light leakage of the liquid crystal display in the dark state, improving the contrast of the liquid crystal display, and improving the image quality.