A touch panel, a manufacturing method thereof and a display device, which belong to the field of display technology, are disclosed. The touch panel includes a substrate (1), and a first light-transmitting insulation layer (2), a touch structure (3), and a second light-transmitting insulation layer (4), which are sequentially disposed on the substrate (1); the touch structure (3) includes a first touch layer (31), a third light-transmitting insulation layer (32), and a second touch layer (33), which are sequentially stacked; a refractive index of the first light-transmitting insulation layer (2) is greater than that of the third light-transmitting insulation layer (32); and a refractive index of the third light-transmitting insulation layer (32) is greater than that of the second light-transmitting insulation layer (4).