A display substrate, a display panel, and a display device are provided. The display substrate includes a transparent region and a pixel display region surrounding at least a portion of the transparent region. The display substrate includes a base substrate and a first optical layer located on the base substrate, the first optical layer is located within the pixel display region. A portion of the first optical layer close to the transparent region includes a first light ray deflection part configured to deflect image light of the pixel display region around the transparent region toward the transparent region for displaying in the transparent region.