The present disclosure relates to a white light OLED and a display panel. The OLED includes a first electrode, a first hole injection layer, a first hole transport layer, a first luminous layer, a first electron transport layer, a charge generation layer, a second hole injection layer, a second hole transport layer, an electron blocking layer, a second luminous layer, a third luminous layer, a second electron transport layer, and a second electrode stacked in sequence. The first luminous layer is a blue luminous layer, the second luminous layer is a blue luminous layer, and the third luminous layer is a yellow luminous layer. With such configuration, the color shift and the power consumption issue caused by insufficient blue light may be effectively overcome.