In recent years, the display industry has progressed rapidly. One of the most important developments is the ability to build flexible, transparent and very thin displays by organic light emitting diode (OLED). Researchers working on this field try to improve this area more and more. It is shown that quantum dot (QD) can be helpful in this approach. In this chapter, writers try to consider all the studies performed in recent years about quantum dot-based light emitting diodes (QDLEDs) and conclude how this nanoparticle can improve performance of QDLEDs. In fact, the existence of quantum dots in QDLEDs can cause an excellent improvement in their efficiency and lifetime resulted from using improved active layer by colloidal nanocrystals. Finally, the recent progresses on the quantum dot-based light emitting diodes are reviewed in this chapter, and an important outlook into challenges ahead is prepared.