A package structure and method for forming the same are provided. The package structure includes a conductive layer formed over a first substrate, and a dielectric layer formed over the conductive layer. The package structure includes a metal-insulator-metal (MIM) capacitor embedded in the dielectric layer, and a shielding layer formed over the MIM capacitor. The shielding layer is insulated from the MIM capacitor by the dielectric layer. The package structure also includes a first through via formed through the MIM capacitor, and the first through via is connected to the conductive layer, and the first through via is insulated from the shielding layer.