The invention discloses a liquid crystal compound containing a tetrafluoro-dihydrophenanthrene structure and application of the liquid crystal compound. The liquid crystal compound has the advantagesof negative dielectric anisotropy, moderate refractive index, higher clearing point, lower viscosity and higher low-temperature intersolubility. The liquid crystal composition also contains liquid crystal compounds shown as general formulas II, III, IV and V, which have the characteristics of larger dielectric anisotropy absolute value, poor clearing point, higher stability and low-temperature intersolubility, higher UV resistance, lower viscosity, short response time and high VHR and resistivity; and the liquid crystal compound can be applied to display modes such as VA, MVA, PVA, FFS, PSVA,IPS and TFT.