A method of fabricating a color filter substrate includes forming a plurality of color filters on a substrate, wherein the color filters are spaced apart from each other by a first interval, and forming a common electrode on the substrate to cover the color filters. A photosensitive black material layer is formed on the common electrode to fill the first intervals between the color filters, and a mask is provided over the photosensitive black material layer. Light is then applied to the photosensitive black material layer from an upper side of the substrate through the mask and from a lower side of the substrate. The light-applied photosensitive black material layer is developed to form a plurality of black matrix portions within the first intervals between the color filters and to form a plurality of spacers above the color filters.