Disclosed are a display panel and a method of manufacturing a display panel. The display panel includes an array substrate, a color film substrate disposed opposite to the array substrate, a liquid crystal layer disposed between the array substrate and the color film substrate, and a reflective layer disposed on a side of the array substrate facing the liquid crystal layer, wherein the reflective layer includes a plurality of first convex structures and a plurality of convex rings, and an outer peripheral edge of each of the first convex structures is surrounded by at least one of the convex rings.