Disclosed are a VCOM generation circuit and a liquid crystal display. The VCOM generation circuit has a voltage divider circuit coupled between a power source input end of the VCOM generation circuit and a ground, and a voltage output end; an operational amplifier output circuit, and one input end is coupled to the voltage output end of the voltage divider circuit, and an output end is a VCOM input end of a liquid crystal display, employed for outputting a liquid crystal drive reference voltage VCOM as the liquid crystal display functions to charge a liquid crystal layer; a delay circuit, coupled between the one input end of the operational amplifier output circuit and the ground, and employed for delaying a change rate of the VCOM as the operational amplifier output circuit outputs the VCOM.