The invention provides a display substrate, a manufacturing method thereof, a display panel and a display device, and belongs to the technical field of display. By the display substrate, the manufacturing method thereof, the display panel and the display device, the problems of short lifetime and poor color gamut of an existing WOLED display panel can be at least partially solved. Each organic functional layer in the display substrate covers a plurality of first electrode structure, a multi-layer organic functional layer comprises a first type of composite light-emitting layer and a second type of composite light-emitting layer, the first type of composite light-emitting layer gives out light in a special color, the second type of composite light-emitting layer gives out light in other colors, a part of the first electrode structures is a first type of first electrode structures and is used for forming sub-pixels in special colors, a part of first electrode structures is a second typeof first electrode structures and is used for forming sub-pixels in other colors, the first type of first electrode structure comprises a conductive layer and a light-emitting layer, the conductive layer is in contact with the organic functional layer nearest to a substrate, and the light-emitting layer can be used for absorbing the light in other colors and giving out the special color.