A display substrate, a manufacturing method thereof, a display panel and a display device are provided. The display substrate includes: a base substrate, a plurality of display areas arranged in an array on the base substrate, and non-display areas between the display areas. A display structure is disposed in the display area and configured to display images. The non-display area is light-transparent and is provided with a photochromic pattern. The photochromic pattern is configured to adjust the light transmittance of the non-display area according to the illumination intensity of the received light.