A common electrode voltage compensating method, apparatus and a timing controller, the method comprising making statistics for grey scale data of every pixel for displaying a display picture; calculating a grey scale shifting rate between two adjacent rows of pixels, and obtaining common electrode voltage compensation signal parameters based on the grey scale shifting rate; generating positive/negative polarity information of the common electrode voltage compensation signal parameters based on a pixel voltage polarity inversion signal; generating a common electrode voltage compensation control signal based on the common electrode voltage compensation signal parameters and the positive/negative polarity thereof. The common electrode voltage compensating method, apparatus and timing controller address the problem of display picture pixels grey scale shifting due to a reversion of the positive/negative polarity of grey scale voltage.