The present invention discloses a display panel manufacturing method and a display panel. The method comprises: providing a substrate; forming a pixel limitation layer with a plurality of openings on the substrate and an insulated column located on the pixel limitation layer; depositing and forming a first electrode layer in the openings; forming a luminescent layer on the first electrode layer; and forming a second electrode layer on the luminescent layer. According to the technical scheme, the problem is solved that the reflection electrode quality is decreased in the manufacturing process of the display panel in the prior art, the technology flow is decreased, and the production cost is reduced.