A liquid crystal display includes a liquid crystal panel having a plurality of pixels, a lookup table which stores information about a plurality of digital common voltages, each of the plurality of digital common voltages corresponding to at least one gray value, a timing controller which analyzes gray characteristics of image signals to be displayed on the liquid crystal panel and which selects one of the digital common voltages based on an analysis result, and a common voltage generator which generates an analog common voltage in response to the digital common voltage selected by the timing controller and which supplies the analog common voltage to the liquid crystal panel.