An array substrate, a manufacturing method thereof, a display panel and a display device are disclosed. The array substrate includes a base substrate, a light shielding layer, an active layer of a thin film transistor, and an insulating layer. The light shielding layer includes light transmission holes on the base substrate. The active layer of the thin film transistor is located on the side of the light shielding layer away from the base substrate. An insulating layer is located on the base substrate. The insulating layer includes a first through hole in communication with the light transmission hole.