A transflective display panel and a display apparatus using the same are provided. The display panel includes a plurality of pixels arranged in a matrix. Each of the pixels includes a plurality of subpixels, and each subpixel within a pixel outputs a different color of light. In addition, each of the subpixels includes a transflective mode region which has a reflection mode region with a diffraction grating and a transmission mode region; a liquid crystal layer which adjusts a transmittance of incident light through electric control; and a sub color filter which transmits light within a wavelength band of the incident light. Because the display panel includes the reflection mode region where the diffraction grating is formed, it can display a high-quality image with good white balance, even while outdoors or under bright illumination.