The present invention relates to a liquid crystal display panel and a display device. The liquid crystal display panel comprises a first substrate and a second substrate assembled in an aligned manner, and further comprises a reflecting layer, a light wavelength conversion layer and a quantum dot layer; the reflecting layer is provided on the second substrate, the quantum dot layer is provided on the first substrate or the second substrate, and the reflecting layer and the quantum dot layer are arranged in a direction from the second substrate to the first substrate; the light wavelength conversion layer is made from an upconversion material and provided between the reflecting layer and the quantum dot layer. The above liquid crystal display panel has a higher utilization of ambient light, and thus has higher brightness and contrast ratio.