Provided are a display panel, a driving method thereof and a display device. The display panel includes a substrate, multiple sub-pixels located on one side of the substrate, and at least one signal conversion circuit. Each sub-pixel includes a pixel driving circuit and a light-emitting element. The pixel driving circuit includes an initialization transistor and a driving transistor. A first electrode of the initialization transistor is electrically connected to a gate of the driving transistor. The signal conversion circuit may convert a received initialization signal to a first initialization signal or convert the initialization signal to a second initialization signal according to a received data control signal, and generate an output of the conversion to the second electrode of the initialization transistor. This can avoid an unstable gate voltage of the driving transistor caused by a leakage current, further improve the display effect.