The present disclosure relates to a compensation circuit and a method for controlling the same, a display panel and a display device. The compensation circuit includes a sensing line for receiving a current from the source to the drain of the first transistor The compensation circuit includes a first switch having a terminal electrically connected to the sensing line. The compensation circuit includes a current sensor electrically connected to another terminal of the first switch and configured to determine a value of a current on the sensing line when the first transistor is turned on and the first switch is closed The compensation circuit includes a controller electrically connected to the current sensor and the data line for adjusting a data signal input to the data line according to the value of the current.