The disclosure discloses a liquid crystal grating and a method of manufacturing the same and a display apparatus, and belongs to the field of display apparatus. The liquid crystal grating comprises: a first transparent electrode having a grating structure formed on a first substrate, a polymer network layer laying over the first transparent electrode, and a second substrate laying over the polymer network layer, and the second substrate has a second transparent electrode provided corresponding to the first transparent electrode on the side toward the polymer network layer; the polymer network layer comprises liquid crystal and a polymer network allowing the liquid crystal to arrange in a preset manner by an anchoring effect; and the polymer network is a polymer network formed by the polymerization of a reactive monomer and a photoinitiator. The polymer network layer may further comprise a copolymer used for entangling the polymer network and adhering the polymer network to the first transparent electrode. The first substrate may be a light-outgoing side surface of a display device.