The application relates to the technical field of display, and discloses a display substrate, a method for preparing the same, and a display panel. The display substrate includes a base substrate, a pixel circuit layer and a flat layer sequentially arranged on the base substrate, and anodes located on a side, away from the base substrate, of the flat layer and corresponding to pixel units one by one, wherein a plurality of grooves of which openings are away from the base substrate are formed in the flat layer, a boss is formed between each two adjacent grooves, and an orthographic projection of each pixel unit on the base substrate is overlapped with an orthographic projection of a corresponding groove on the base substrate; and in each pixel unit: the anode is formed on the boss, a hollow structure is arranged at a part, opposite to a corresponding groove of the flat layer, of the anode, and an orthographic projection of the anode on the base substrate is located within an orthographic projection of the boss on the base substrate. The flat layer is provided with openings and thus can accommodate anode deficiencies generated by the anodes; and the hollow structures of the anodes can avoid dark spots finally caused by anode deformation generated by high-pressure washing, and therefore, the yield is increased.