Compensation effect of blue phase I (BP I) with blue phase II (BP II) liquid crystal was demonstrated. BP I and BP II were co-exist in the optoeletronic device by polymer stabilization. Consequently, disadvantages of BP I and BP II were greatly improved by compensation effect and resulted in high contrast ratio, low hysteresis and fast falling time. Mechanism of compensation effect was explained by relaxation ability of lattice structure under electrical field and compensation structure was well confirmed by Bragg's reflectance spectrum and Commission International de l'Éclairage chromaticity diagram.