Abstract: A pixel array substrate includes a substrate, pixel units, and signal lines. Each pixel unit includes an active device, a first insulation layer, a common electrode, a second insulation layer, and a pixel electrode. The common electrode is disposed on the first insulation layer and has openings. The pixel electrode is disposed on the second insulation layer and overlapped with the common electrode. The pixel electrode is electrically connected to the active device. The signal lines are disposed on the substrate and electrically connected to the active device, respectively. The openings include at least one first opening, and an orthogonal projection of the at least one first opening on the substrate is located between orthogonal projections of the pixel electrodes on the substrate and orthogonal projections of the signal lines on the substrate. A display panel including the pixel array substrate is also provided.