The embodiment of the invention provides a display panel and a display device. The display panel comprises an insulating layer, a cathode layer and anode blocks, the insulating layer is located on anarray substrate and comprises multiple grooves, the grooves are formed in the surface of the side, away from the array substrate, of the insulating layer, the cathode layer is located on the surface of the side, away from the array substrate, of the insulating layer, the orthogonal projection of the cathode layer on the array substrate does not overlap with those of the grooves in the array substrate, the anode blocks are located on the surface of the side, away from the array substrate, of the insulating layer and are located in the grooves, first electrodes and second electrodes of miniaturelight emitting diodes are located on the surfaces of one side of each miniature light emitting diode, the first electrodes are electrically connected with the cathode layer, and the second electrodesare electrically connected with the anode blocks. By the adoption of the design, the horizontal miniature light emitting diodes are arranged in the display panel, and compared with a display panel which is provided vertical miniature light emitting diodes in the prior art, the display panel is thinner.