A package substrate includes a base substrate having a light-transmitting region and a non-light-transmitting region, wherein metal electrodes and a spacer located on at least a part of a surface of the metal electrodes away from the base substrate are provided on the base substrate, an orthogonal projection of the spacer on the base substrate is within an orthogonal projection of the metal electrodes on the base substrate, and an orthogonal projection of the metal electrode on the base substrate is within the non-light-transmitting region of the base substrate, and an interval exists between the spacer and the metal electrodes. A method of manufacturing the package substrate is used for manufacturing the above package substrate. The package substrate provided by the present disclosure is used in a display device.