An apparatus for reducing power consumption of a liquid crystal panel is provided. The apparatus comprises Thin Film Transistors formed on each of data lines, cut line formed in the direction parallel to gate lines and connected to the gate of the TFTs, and a switching control unit; wherein, the switching control unit controls the on/off state of the TFTs via the cut line during transmission of a data signal so as to control the number of the capacitors to be charged on the data line of the liquid crystal panel. A method for reducing power consumption of a liquid crystal panel is provided at the same time. By adopting the apparatus and the method provided in the embodiments of the present invention, the power consumption of the liquid crystal panel can be reduced effectively during the operation of the liquid crystal panel.