An array substrate includes a plurality of pixel units arranged in an array. Each of the pixel units includes a common electrode, a first insulation layer, a sub pixel electrode, a second insulation layer, and a conductor plate that are sequentially stacked. The conductor plate is electrically connected to the common electrode. The common electrode and the sub pixel electrode collectively form therebetween a first confronting area and the conductor plate and the sub pixel electrode collectively form therebetween a second confronting area, such that a storage capacitor is formed, collectively, between the common electrode and the sub pixel electrode and between the conductor plate and the sub pixel electrode. The above-described array substrate provides a relatively large storage capacitor. Also disclosed is a display panel.