A coil electronic component includes a body comprising a magnetic material, an insulating substrate comprising a support portion disposed inside the body, and a tip extending from the support portion and exposed from an external surface of the body, a coil portion disposed on the support portion, and a lead-out portion extending from one end of the coil portion, disposed on the tip, and exposed from the external surface of the body. The lead-out portion has a slit exposed from the external surface of the body.