The present disclosure proposes an optical compensation film for a liquid crystal display, including a first C-plate arranged on one side of a liquid crystal panel, a first polyvinyl alcohol layer arranged outside the first C-plate, a second C-plate arranged on the other side of the liquid crystal panel, an A-plate arranged outside the second C-plate and a second polyvinyl alcohol layer arranged outside the A-plate, wherein the in-plane compensation value for optical path difference of the A-plate lies in the range of [92, 184] nm, the compensation value for optical path difference in the thickness direction of the A-plate lies in the range of [46, 92] nm. The present disclosure also proposes a liquid crystal display including the above-mentioned optical compensation film for reducing light leakage and increasing contrast.