A display panel is provided. The display panel includes a color filter substrate. The color filter substrate includes a first substrate, a black matrix, a color filter layer, a transparent conductive layer, and a plurality of spacers. The black matrix and the color filter layer are disposed on the first substrate. The transparent conductive layer is disposed on the color filter layer and the black matrix, and has a plurality of openings located above the black matrix. The spacers are located on the transparent conductive layer and located on the black matrix. At least one of the openings is located between the adjacent spacers, and at least one of the spacers partially overlaps at least one of the openings.