The present invention discloses a touch panel and a method of manufacturing a touch panel, to reduce the visibility of the transparent etching line of the transparent electrodes on the touch panel. The touch panel comprises a plurality of transparent electrode disposed distantly on the transparent conductive layer and the passivation layer of a transparent substrate, where the passivation layer covering the transparent conductive layer, to make the refractive index of the passivation layer and the transparent electrodes match with each other. Oxide with high refractive index added in the passivation material is filled in the etched area of the transparent conductive layer, so that the optical refractive index of the etched area and ITO area on transparent conductive layer become closer, and the difference in refractive index curve between ITO area and etched area is reduced, therefore, the effect of making the transparent electrode pattern is achieved.