The invention relates to a liquid crystal display technology, in particular to a color film substrate capable of inhibiting light leakage, a manufacturing method of the color film substrate, a display panel comprising the color film substrate and a display device comprising the display panel. The color film substrate comprises a substrate, a color filter layer formed on the substrate, a protecting layer formed on the color filter layer and an orientation layer formed on the protection layer, wherein the color filter layer comprises multiple optical filters which are arranged adjacently; the color film substrate further comprises a shading layer, and the shading layer is formed in the position, corresponding to the peripheral area of the optical filters, of the orientation layer.