The present disclosure provides a device for adjusting a common electrode voltage and a method thereof, a driving circuit and a display device. The device for adjusting the common electrode voltage includes: a common-electrode-voltage monitor, configured to detect a common electrode voltage on the common electrode line in real time, judge whether the common electrode voltage is within a first voltage range, and output an adjustment control signal in the case that the common electrode voltage is beyond the first voltage range in each of N data-source row-latch periods within one frame period, wherein N is a positive integer; and a polarity inversion controller, connected with the common-electrode-voltage monitor and configured to change a polarity inversion signal upon receiving the adjustment control signal, so as to adjust the common electrode voltage on the common electrode line.