The present disclosure provides method and device for processing compensation data to be applied to a pixel circuit, and a display panel. The method includes: receiving M compensation data; determining a first threshold range according to (i−N)-th to (i−1)-th standard data, wherein midpoint and length of the first threshold range both depend on the (i−N)-th to (i−1)-th standard data; judging whether an i-th compensation data is in the first threshold range or not; in response to the i-th compensation data being in the first threshold range, determining the i-th compensation data as qualified and using it as an i-th standard data; and in response to the i-th compensation data not being in the first threshold range, determining the i-th compensation data as unqualified, replacing it with an average value of the (i−N)-th to (i−1)-th standard data, and using the replaced i-th compensation data as the i-th standard data.