There is provided a high quality liquid crystal panel having a thickness with high accuracy, which is designed, without using a particulate spacer, within a free range in accordance with characteristics of a used liquid crystal and a driving method, and is also provided a method of fabricating the same. The shape of a spacer for keeping a substrate interval constant is made such that it is a columnar shape, a radius R of curvature is 2 .mu.m or less, a height H is 0.5 .mu.m to 10 .mu.m, a diameter is 20 .mu.m or less, and an angle .alpha. is 65.degree. to 115.degree.. By doing so, it is possible to prevent the lowering of an opening rate and the lowering of light leakage due to orientation disturbance.