According to embodiments of the invention, a TFT array substrate, a manufacturing method of the TFT array substrate and a display device are provided. The method comprises: depositing a metal film on a substrate, and forming a gate electrode and a gate line; forming a gate insulating layer and a passivation layer on the substrate; depositing a transparent conductive layer, a first source/drain metal layer and a first ohmic contact layer, and forming a drain electrode, a pixel electrode, a data line, and a first ohmic contact layer pattern provided on the drain electrode; and depositing a semiconductor layer, a second ohmic contact layer and a second source/drain metal layer, and forming a source electrode, a second ohmic contact layer pattern provided below the source electrode, and a semiconductor channel between the source electrode and the drain electrode.