An electrophoretic display and a method of manufacturing the electrophoretic display are provided. The electrophoretic display includes an lower electrode formed on an under layer, an lower electrode protection layer formed on the lower electrode, an insulating template formed on the lower electrode protection layer and having a plurality of holes of smaller size than the wavelength of visible rays region, a dielectric fluid filling the holes and having a color, a plurality of charged particles suspended in the dielectric fluid filling each of the plurality of holes having a color different from the color of the dielectric fluid, and an upper electrode formed on the insulating template in sequential order. Accordingly, a problem of agglomeration of the charged particles can be solved by the insulating template having holes of smaller size than the wavelength of visible rays region, and thus a reliable electrophoretic display emitting light of one color or natural colors is achieved.