Large Language Models (LLMs) have garnered significant attention for their powerful ability in natural language understanding and reasoning. In this paper, we present a comprehensive empirical study to explore the performance of LLMs on misinformation detection tasks. This study stands as the pioneering investigation into the understanding capabilities of multiple LLMs regarding both content and propagation across social media platforms. Our empirical studies on five misinformation detection datasets show that LLMs with diverse prompts achieve comparable performance in text-based misinformation detection but exhibit notably constrained capabilities in comprehending propagation structure compared to existing models in propagation-based misinformation detection. Besides, we further design four instruction-tuned strategies to enhance LLMs for both content and propagation-based misinformation detection. These strategies boost LLMs to actively learn effective features from multiple instances or hard instances, and eliminate irrelevant propagation structures, thereby achieving better detection performance. Extensive experiments further demonstrate LLMs would play a better capacity in content and propagation structure under these proposed strategies and achieve promising detection performance. These findings highlight the potential ability of LLMs to detect misinformation.
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