A touch panel includes a first polarizing element, a first substrate, a liquid crystal layer, a second polarizing element, a touch electrode layer, a color converting layer and a second substrate. The first polarizing element has a first polarizing axis. The first substrate is disposed on the first polarizing element. The liquid crystal layer is disposed on the first substrate. The second polarizing element is disposed on the liquid crystal layer, includes a plurality of polarizing touch electrodes, and has a second polarizing axis crossing the first polarizing axis. The touch electrode layer is disposed on the liquid crystal layer, disposed adjacent to the second polarizing element and includes a plurality of touch electrodes. The color converting layer is disposed on the second polarizing element. The second substrate is disposed on the color converting layer.