An electrophoretic display panel including a transparent substrate, an active element array, a protective layer, plural electrophoretic display media and a transparent conductive layer is provided. The transparent substrate has an upper surface, a lower surface, plural first cavities located on the upper surface and plural second cavities located on the lower surface. The active element array is disposed on the upper surface and covers the upper surface and the first cavities. The protective layer is disposed on the upper surface and covers at least the active element array. The electrophoretic display media and the transparent conductive layer are disposed on the lower surface. The electrophoretic display media and the active element array overlap in at least a portion of their orthographic projections on the upper surface of the transparent substrate. The electrophoretic display media are located between the transparent conductive layer and the lower surface of the transparent substrate.