The present disclosure provides a light emitting device, a display substrate and a display equipment. The light emitting device includes a hole injection layer, a hole transport layer, an electron blocking layer, a light emitting layer and an electron injection layer that are stacked in sequence; the light emitting layer includes a plurality of light emitting units, and the wavelengths of lights emitted by at least two of the plurality of light emitting units are different from each other; a hole mobility of the electron blocking layer is greater than or equal to a hole mobility of the hole injection layer or the hole transport layer; and a square resistance of the hole injection layer and a square resistance of the hole transport layer are both greater than or equal to 5×1010 Ω/sq.