A coil component includes a body having one surface and the other surface, opposing each other, and one side surface and the other side surface, each connecting the one surface and the other surface to each other, opposing each other, a recess formed in each of the one side surface and the other side surface of the body to extend to the one surface of the body, a support substrate disposed inside the body, a coil portion, disposed on the support substrate, having one end portion and the other end portion exposed to the recess, an oxide insulating layer disposed on a surface of the body, and a first insulating layer disposed along a surface of the oxide insulating layer to cover the surface of the body.