The present disclosure provides a liquid crystal panel, a manufacturing method thereof and a manufacturing method of a CF substrate. The manufacturing method of the liquid crystal panel includes: manufacturing a CF substrate and a TFT substrate with voltage-applying terminals, forming through holes at positions of the CF substrate corresponding to the voltage-applying terminals of the TFT substrate, and bonding the TFT substrate and the CF substrate. With the through holes formed in the CF substrate and corresponding to the voltage-applying terminals of the TFT substrate, the voltage-applying terminals can be revealed without cutting the CF substrate after the CF substrate and the TFT substrate are bonded together, which avoids reprocess due to cutting abnormality and further improves the yield rate of the liquid crystal panel.