The invention provides a panel installation structure and an air conditioner and relates to the technical field of air conditioners. The panel installation structure comprises a supporting part, a limiting structure and a limiting part. A first opening hole penetrating the supporting part is formed in the supporting part. The limiting structure is arranged on the supporting part. The limiting partis matched with the limiting structure, and the supporting part and the limiting part are arranged on a panel and a middle frame of the air conditioner correspondingly. After the panel is opened, thelimiting part and the limiting structure are mutually limited and are suitable for supporting of the panel. By means of the panel installation structure and the air conditioner, the limiting structure is arranged on the side wall of the first opening hole so that one face of the limiting structure can be connected with the side wall of the first opening hole, a gap is formed between the limitingstructure and the opening hole so that the limiting structure can be in a semi-free state, so the limiting structure has certain elasticity, the limiting structure is more likely to be deformed when being extruded, and opening and closing of the panel are facilitated.