Provided are a display panel, a preparation method thereof and a display device. The display panel includes a light-emitting substrate and a color filter substrate; the color filter substrate includes: a substrate, a baffle wall layer and a reflective metal layer. The baffle wall layer is located on one side of the substrate and includes multiple baffle wall structures; the reflective metal layer includes a first reflective subsection covering a surface on a side, close to the light-emitting substrate, of the multiple baffle wall structures; the first reflective subsection includes multiple first metal subsections and multiple second metal subsections; and the multiple first metal subsections are independently disposed, and adjacent ones of the multiple second metal subsections along the first direction are connected to each other.