A display panel includes an active area and a peripheral area surrounding the active area, and includes first and second substrates, a shading layer and an adhesive agent. The second substrate is disposed opposite the first substrate. The shading layer is disposed on the first substrate and corresponds to the peripheral area. The shading layer includes a first contact surface contacting with the first substrate, the first contact surface has a first edge. The adhesive agent is disposed between the first substrate and the second substrate and corresponds to the shading layer. The adhesive agent includes two second contact surfaces respectively facing the first substrate and the second substrate, one of the second surfaces has a second edge near the active area, and the line edge roughness of the second edge is greater than that of the first edge.