A display panel with touch function and a fault detection method are disclosed. The display panel includes a display component and a touch component sharing common electrodes. The common electrodes are divided into a plurality of areas arranged in a matrix. The common electrode within each area connects to a touch chip via detection circuits. The display panel further comprises at least two switch control circuits for controlling the detection circuits corresponding to a plurality of areas in a predetermined manner such that the common electrode within each area and the common electrode within an adjacent area are controlled by different switch control circuits. When the display component is in a display state, at least two switch control circuits are configured to set up a common voltage for the common electrode in the plurality of areas. The display states of the display component in the plurality of areas are detected to determine a malfunction of the detection circuit. In this way, the TP circuit detection may be performed in an easier and more efficient way.