The present application discloses a display panel and a display device. The display panel includes a substrate, a light shielding portion, a thin film transistor array layer, and a spacer layer disposed between the substrate and the thin film transistor array layer. The thin film transistor array layer includes a thin film transistor including an active layer including a channel portion. The light shielding portion is embedded in the substrate, and the orthographic projection of the channel portion on the substrate is located within the coverage area of the orthographic projection of the light shielding portion on the substrate.