A liquid crystal display device and a method of driving the same are disclosed. The liquid crystal display device includes a liquid crystal display panel including data lines, gate lines crossing the data lines, and liquid crystal cells arranged in a matrix format at each of crossings of the data lines and the gate lines; a data drive circuit that converts digital video data into a positive/negative data voltage using gamma reference voltages to supply the positive/negative data voltage to the data lines; and a gamma voltage adjusting unit that increases a potential of each of the gamma reference voltages during a blanking period when a polarity of the positive/negative data voltage is inverted.