A display panel and a manufacturing method thereof, and a display device are provided. The display panel includes a first substrate and a second substrate disposed opposite to each other, and a liquid crystal layer therebetween; and at least one pixel electrode and at least one common electrode disposed on at least one of the first substrate and the second substrate; wherein at least one orthographic projection of the at least one pixel electrode on a first base substrate of the first substrate and at least one orthographic projection of the at least one common electrode on the first base substrate are alternately arranged along a first direction in which the first base substrate extends; and a ratio of a height of the at least one pixel electrode to a thickness of the liquid crystal layer is in a range of 20%-50.