The invention relates to the liquid crystal field, and especially relates to a liquid crystal composition and applications thereof in the liquid crystal display field. The liquid crystal composition is composed of the following compounds in parts by weight: 5 to 40 parts of one or more compounds represented by the formula I, 2 to 30 parts of one or more compounds represented by the formula II, and 20 to 70 parts of one or more compounds represented by the formula III, and may also comprises 4 to 30 parts of one or more compounds represented by the formula IV, or / and 5 to 25 parts of one or more compounds represented by the formula V to IX. By the cooperation among the compounds, the rotation viscosity of the liquid crystal composition can be effectively reduced, the related performances of mixed liquid crystal are improved, and thus the responding time is reduced. The provided liquid crystal composition can be used to produce quick response liquid crystal display with a plurality of display modes.