A pixel arrangement structure and a display panel. The pixel arrangement structure includes a first pixel unit including a first sub-pixel, a second sub-pixel, a third sub-pixel and a fourth sub-pixel; a center of the first sub-pixel is coincident with a first vertex of a first virtual diamond; a center of the second sub-pixel is coincident with a second vertex of the first virtual diamond; a center of the third sub-pixel is coincident with a third vertex of the first virtual diamond; and a center of the fourth sub-pixel is coincident with a fourth vertex of the first virtual diamond.