The embodiment of the invention provides a display panel and a manufacturing method thereof, and a display device. The display panel comprises a substrate, a light-emitting device layer and a light adjusting structure layer, wherein the light-emitting device layer is located on the substrate, and comprises a plurality of light-emitting devices, the light adjusting structure layer is located on theside, away from the substrate, of the light-emitting device layer, and comprises a plurality of light adjusting units and a dielectric layer covering the plurality of light adjusting units, the refractive index of the light adjusting units is smaller than that of the dielectric layer, each light adjusting unit comprises a light adjusting sub-part, each light adjusting unit comprises a through hole, the through holes penetrate through the light adjusting units in the direction perpendicular to the substrate, the through holes are overlapped with the light emitting device, and the light adjusting sub-parts are arranged around the through holes. For one light adjusting unit, the thickness of the light adjusting part is gradually increased in the direction from the through hole to the light adjusting sub-part. The probability that light rays are totally reflected in the display panel and limited in the display panel can be reduced, and the light emitting efficiency of the light emitting device is improved.