A transparent display panel includes a base, a first pixel defining structure and a first light-emitting devices. The first pixel defining structure is disposed on the base and includes a first opening that has a light transmission region and a light-emitting region. The first light-emitting device is disposed on the base and includes an opaque electrode and a light-emitting functional layer. At least part of the opaque electrode is exposed by the first opening, and an orthographic projection of the opaque electrode does not overlap with the light transmission region. The light-emitting functional layer is disposed in the first opening and defined by the first opening. The orthographic projection of the opaque electrode and an orthographic projection of the light-emitting functional layer have an overlapping region, and at least a portion of the overlapping region is within the light-emitting region.