A display panel including: a first display substrate and a second display substrate. The second display substrate includes: a base substrate; a light control layer disposed on the base substrate and including a first conversion part configured to convert the first color light into a second color light, a second conversion part configured to convert the first color light into a third color light, and a transmission part configured to transmit the first color light; and a nano particle layer disposed between the base substrate and the light control layer and configured to absorb at least one of a first light having an overlapping wavelength range of a wavelength range of the first color and a wavelength range of the third color and a second light having an overlapping wavelength range of a wavelength range of the second color and a wavelength range of the third color.