Embodiments of the disclosure provide a display panel and a display device. The display panel includes a substrate, a plurality of light emitting elements and at least one transmissive-reflective module, where the light emitting elements are arranged on the substrate; each of the light emitting elements includes a first electrode, a light emitting functional layer and a second electrode arranged along a direction vertical to the substrate and away from the substrate; the at least one transmissive-reflective module is arranged on a side, close to the substrate, of the first electrode of at least one of the light emitting elements, and/or on a side, away from the substrate, of the second electrode of at least one of the light emitting elements; the transmissive-reflective module is configured to switch between a transmissive state and a reflective state.