A method of manufacturing a semiconductor package includes preparing a core substrate having an upper surface and a lower surface, and including a cavity. A passive component is disposed in the cavity. A first insulating layer is formed on the upper surface of the core substrate and in the cavity and encapsulates the passive component. Through-vias are formed that penetrate the core substrate and the first insulating layer, and a first wiring layer is formed on the first insulating layer. The first wiring layer connects the through-vias and the passive component. A connection structure including an insulating member is formed on the first insulating layer and a redistribution layer is formed in the insulating member. The redistribution layer is connected to the first wiring layer. A semiconductor chip is disposed on an upper surface of the connection structure. The semiconductor chip has connection pads connected to the redistribution layer.