A touch module, a manufacturing method thereof and a display device are disclosed. The touch module includes peripheral leads, an insulating layer and a touch electrode layer sequentially arranged on a substrate in stacked layers. The touch electrode layer includes touch sensing electrodes and touch drive electrodes, which intersect and are insulated from each other, and connection terminal protection members. Patterns of the touch sensing electrode and the touch drive electrode cover overlapping parts of the peripheral leads electrically connected with the touch sensing electrodes and the touch drive electrodes at positions of first opening areas of the insulating layer. Patterns of the connection terminal protection members cover connection terminal parts of corresponding peripheral leads at positions of second opening areas of the insulating layer. The touch module can simplify the number of layers of the touch module, reduce the use number of masks and improve the productivity.