Embodiments of the invention provide an organic light emitting diode pixel circuit and a display device so as to address such a problem of non-uniform display of an image on the entire display panel due to different threshold voltages of drive transistors in different pixel elements in a traditional organic light emitting diode pixel circuit. A drive signal generation module in the organic light emitting diode pixel circuit according to an embodiment of the invention reads and stores the threshold voltage of a drive transistor in a threshold voltage reading phase, and in a signal loading phase, receives an image data signal and generates a drive signal from the received image data signal and the threshold voltage of the drive transistor stored in the threshold voltage reading phase so that the drive signal is dependent upon the threshold voltage of the drive transistor.