The present disclosure provides a quantum dot color filter, a fabrication method thereof, a display panel and a display device, and belongs to the field of display technology. The quantum dot color filter of the present disclosure includes a quantum dot functional layer configured to emit light of a certain color under excitation of excitation light. The quantum dot functional layer has a hollowed-out portion, which exposes a side surface of the quantum dot functional layer, so that the excitation light is able to arrive at the side surface.