A display device having a MEMS transmissive light valve and a method for forming the same are provided. The method includes: providing a multilayer semiconductor substrate comprising a bottom semiconductor layer, a middle buried layer and a top semiconductor layer; forming a light guide opening in the top semiconductor layer; forming at least one MOS device in a remaining part of the top semiconductor layer; forming an interconnection layer and an interlayer dielectric layer on the at least one MOS; forming a MEMS transmissive light valve, which is electrically connected to the interconnection layer, on the light guide opening, where the MEMS transmissive light valve is surrounded by the interlayer dielectric layer; forming a transparent backplane on a top surface of the interlayer dielectric layer; and removing the bottom semiconductor layer.