Array substrate and display panel, and their fabrication methods are provided. The array substrate includes a first base substrate; a pixel electrode over the first base substrate; a first common electrode between the first base substrate and the pixel electrode; and a storage capacitor electrode, between the pixel electrode and the first common electrode and coupled with one of the pixel electrode and the first common electrode. Projections of the first common electrode and the pixel electrode on the first base substrate at least partially overlap with each other.