A liquid crystal composition is provided that has a wide temperature range of a nematic phase, a suitable optical anisotropy, a large negative dielectric anisotropy and a large specific resistance, and preferably a liquid crystal composition is provided that has a larger optical anisotropy and a lower minimum temperature of a nematic phase while satisfying the aforementioned characteristics. A liquid crystal display device containing the liquid crystal composition is also provided. The liquid crystal composition contains a liquid crystal compound having terphenyl, in which one or two hydrogens are replaced by fluorines, as the first component, and a liquid crystal compound having phenylene, in which two hydrogens are replaced by fluorine, as the second component, and the liquid crystal display device contains the liquid crystal composition.