The present invention belongs to the technical field of liquid crystal materials, and in particular relates to a liquid crystal composition with good frequency dependence and a liquid crystal display element or liquid crystal display containing the liquid crystal composition. The liquid crystal composition of the present invention comprises a compound represented by Formula I, a compound represented by Formula II and a compound represented by Formula III, wherein the mass percentage content of the compound represented by Formula I is not less than 30%. The liquid crystal composition provided by the present invention has an appropriate optical anisotropy, an appropriate dielectric anisotropy, especially a relatively low rotational viscosity, a good low-temperature mutual solubility and a good reliability, especially good frequency dependence.