The present application discloses an array substrate and a display panel, the display panel including: a substrate, a gate electrode, a gate insulating layer, a semiconductor layer, a source and a drain electrode, the gate electrode formed on an upper surface of the substrate; the gate insulating layer formed on upper surfaces of the gate electrode and the substrate to cover the gate electrode; the semiconductor layer formed on an upper surface of the gate insulating layer, and disposed above the gate electrode, the semiconductor layer including silicon germanium oxide, and the semiconductor layer including a channel portion; the source electrode formed on surfaces of the gate insulating layer and the semiconductor layer, and disposed on a side of the channel portion; and the drain electrode formed on the surfaces of the gate insulating layer and the semiconductor layer, and disposed on the other side of the channel portion.