A display substrate and a display device are provided. The display substrate includes sub-pixels and a light emitting control signal line. The sub-pixel includes an organic light emitting element and a pixel circuit, the organic light emitting element includes a second electrode, the pixel circuit includes a driving transistor and a first light emitting control transistor, and the pixel circuit further includes a connection structure. In the second color sub-pixel, a first electrode of the first light emitting control transistor is electrically connected with the connection structure through a first connection hole, and the connection structure is electrically connected with the second electrode through a second connection hole, the first connection hole and the second connection hole are located on both sides of the light emitting control signal line. In the third color sub-pixel, the second electrode does not overlap with a channel of the driving transistor.