The display panel includes an upper display substrate including a plurality of pixel areas and a light blocking area, a lower display substrate. The upper display substrate includes a base substrate, a barrier part overlapping the light blocking area and disposed on the base substrate, a light blocking layer including a first light blocking portion disposed on the barrier part and a second light blocking portion disposed on the same layer as the barrier part to respectively overlap the pixel areas, a reflection layer including a first reflection portion disposed on the first light blocking portion and a second reflection portion disposed on the second light blocking portion, and a light control layer overlapping the pixel areas and disposed on the reflection layer. A plurality of openings passing through the second light blocking portion and the second reflection portion are defined in each of the pixel areas.