The present disclosure proposes a graphene backlight module and an LCD. The graphene backlight module includes a first transparent substrate, a second transparent substrate, a graphene luminous layer, a protective layer, and a black matrix layer. The graphene luminous layer includes luminous elements. A gap located between any two of the adjacent luminous elements is covered by the protective layer. Each of the plurality of luminous elements comprises a source/drain layer, a luminous layer, and a gate layer covering the luminous layer. The black matrix layer includes a plurality of light-shielding units disposed on the protective layer which corresponds to the gap located between any two of the adjacent luminous elements. The graphene backlight module can reduce the color shift of the images shown on the LCD. The color saturation of wide-angle LCDs and the display effect of images are improved as well.