A magnetic display panel in which syneresis is completely eliminated between a colorant and a dispersion medium by the simultaneous use of organic and inorganic thickener. A liquid sealing space is provided between two substrates sealed by an adhesive in which space a dispersing liquid having a yield value of at least 5 dyne/cm.sup.2 is filled. The dispersing liquid is composed of fine magnetic particles, a colorant, a dispersion medium and the organic and inorganic thickeners. The organic thickener is preferably one of olefinic polymer, olefinic copolymer, wax, metal soap and dextrin fatty acid ester while inorganic thickener is preferably one of fine powder silicic acid and fine powder silicate.