A display panel and a method of manufacturing the same are provided. The display pane includes an array substrate and a color filter substrate disposed opposite to each other, and a liquid crystal layer disposed between the array substrate and the color filter substrate. The array substrate includes a transparent electrode layer. The transparent electrode layer includes a pixel electrode and a data line black matrix less (DBS) electrode spaced with each other, a height of the DBS electrode is 0 to 1 micrometer lower than a height of the pixel electrode.