An display system of an excavating machine includes: a vehicle condition detector detecting information related to a current position and a posture of the excavating machine having a work equipment including a bucket; a memory unit storing position information of a target surface indicating a target shape of an object to be worked; a display unit displaying the bucket and position information of a design surface and the target surface; and a processing unit calculating a position of a blade edge of the bucket based on the information related to the current position and the posture of the excavating machine, and, when at least part of the bucket enters a predetermined range in a periphery of the target surface in a direction orthogonal to the target surface, displaying a trajectory of the blade edge which is calculated based on the position of the blade edge and which exists in the predetermined range.