A package structure includes a first circuit board, a second circuit board, at least one electronic component, at least one conductive lead, and a molding compound. The first circuit board includes a first circuit layer and a second circuit layer. The second circuit board includes a third circuit layer and a fourth circuit layer. The electronic component is disposed between the first circuit board and the second circuit board. The conductive lead contacts at least one of the second circuit layer and the third circuit layer. The conductive lead has a vertical height, and the vertical height is greater than a vertical distance between the second circuit layer and the third circuit layer. The molding compound covers the first circuit board, the second circuit board, the electronic component, and the conductive lead. The molding compound exposes the first circuit layer and the fourth circuit layer, and the conductive lead extends outside the molding compound.