A transparent conductive substrate, a method of fabricating the same, and a touch panel including the same. The transparent conductive substrate includes a first thin film layer, a second thin film layer and a transparent conductive film which are sequentially provided on a glass substrate. The first thin film layer has a refractive index ranging from 2.2 to 2.7 at a wavelength of 550 nm and a thickness ranging from 7.6 to 9.4 nm. The second thin film layer has a refractive index ranging from 1.4 to 1.5 at a wavelength of 550 nm and a thickness ranging from 37 to 46.2 nm. The transparent conductive film is made of a transparent conductive material having a refractive index material ranging from 1.8 to 2.0 at a wavelength of 550 nm. The thickness of the transparent conductive film ranges from 24 to 38.5 nm.