A chip resistor includes an insulating substrate, a resistive element provided on an upper surface of the insulating substrate, a pair of upper-surface electrodes provided on respective ones of both end portions of an upper surface of the resistive element so as to expose a part of the upper surface of the resistive element from the upper-surface electrodes, and a protective layer that covers the part of the resistive element and that does not cover the pair of upper-surface electrodes. The pair of upper-surface electrodes have exposed upper surfaces and exposed edge surfaces, respectively. Each of the edge surfaces of the pair of upper-surface electrodes does not project outward from respective one of the edge surfaces of the insulating substrate. The chip resistor can reduce a temperature coefficient of resistance to improve the temperature coefficient of resistance.