A liquid crystal composition is provided that has a wide temperature range of a nematic phase, has a suitable optical anisotropy, has a large negative dielectric anisotropy and has a large specific resistance, and a liquid crystal composition is provided that can increase an optical anisotropy and has a low minimum temperature of a nematic phase, preferably −20° C. or less, while satisfying the aforementioned characteristics. A liquid crystal display device containing the liquid crystal composition is also provided. The liquid crystal composition of the invention has a negative dielectric anisotropy and contains a liquid crystal compound having terphenyl having one or two fluorines replacing hydrogen as a first component and a liquid crystal compound having phenylene having two halogens replacing hydrogens as a second component. The liquid crystal display device of the invention contains the liquid crystal composition.