A light emitting diode display substrate, a method of manufacturing the same, and a display device are provided. The method includes: forming a planarization layer and a photoresist layer in sequence on a substrate on which a thin film transistor is formed, a light sensitivity of the planarization layer being higher than a light sensitivity of the photoresist layer; etching the planarization layer and the photoresist layer simultaneously, such that a pixel defining pattern is formed through a removed portion of the photoresist layer, and an anode via pattern is formed at a position of the planarization layer corresponding to the pixel defining pattern; forming an anode pattern layer on the substrate on which the above steps were performed, wherein the anode pattern layer comprises a plurality of anodes, such that the planarization layer located at edges of the anode via pattern covers edges of the anodes.