Provided are a display substrate, a preparation method thereof, and a display apparatus. The display substrate includes a substrate, an array structure layer disposed on the substrate, a plurality of emitting units and a plurality of ultrasonic transducers disposed at intervals on a side of the array structure layer away from the substrate, wherein the ultrasonic transducers are disposed between adjacent emitting units, and the array structure layer includes a transducer drive circuit connected to the ultrasonic transducer, and the transducer drive circuit is configured to control the ultrasonic transducer to transmit ultrasonic waves and receive voltage signals generated by the ultrasonic transducer receiving echoes.