A magnetic core has a high initial permeability and a small core loss, reducing a core loss at high frequencies; and a coil component including the same. This magnetic core is formed by binding a plurality of Fe-based alloy particles containing Al via an oxide layer containing an Fe oxide. In an X-ray diffraction spectrum of the magnetic core measured using Cu-Kα characteristic X-rays, a peak intensity ratio (P1/P2) of peak intensity P1 of a diffraction peak derived from the Fe oxide having a corundum structure appearing in the vicinity of 2θ=33.2° to peak intensity P2 of a diffraction peak derived from the Fe-based alloy having a bcc structure appearing in the vicinity of 2θ=44.7° is 0.010 or less (excluding 0). A superlattice peak intensity of an Fe3Al ordered structure is at most a noise level within a range of 2θ=20° to 40°.