The present disclosure provides an in cell touch panel and a display device. An entire common electrode layer on an array substrate is divided so as to form a plurality of touch driving electrodes and a plurality of common electrodes which are insulated from each other and arranged in a crisscross manner. Each touch driving electrode includes a plurality of touch driving sub-electrodes, and each touch driving sub-electrode is arranged between the adjacent common electrodes. Each common electrode includes a plurality of common sub-electrodes. Touch sensing electrodes are arranged on an opposite substrate, and a projection of each touch sensing electrode onto the array substrate is located at a region where the common electrode is located. The touch driving electrodes are driven in a time-division manner, so as to achieve a touch function and a display function.