Disclosed are a display panel and a display device in which a reflective electrode layer having a pattern corresponding to a lower surface of a light-emitting element is disposed under the light-emitting element. Thus, light efficiency and light reflectance of an area corresponding to the light-emitting element are increased while a reflectance is lowered in an area other than the area corresponding to the light-emitting element. Thus, light efficiency and light reflectance of the light-emitting element are increased while improving black reflection visibility.