A method of manufacturing a display panel includes providing an insulating substrate that includes a hole area, a display area that surrounds the hole area, and a peripheral area adjacent to the display area, forming a semiconductor pattern in the display area, forming an insulating layer, forming contact holes in the insulating layer that expose portions of the semiconductor pattern, and forming a module hole by etching a portion of the insulating layer and a portion of the insulating substrate that overlap the hole area.