An insulating material-coated soft magnetic powder includes: a core particle that includes a base portion containing a soft magnetic material containing Fe as a main component and at least one of Si, Cr, and Al, and that includes an oxide film provided on a surface of the base portion and containing an oxide of at least one of Si, Cr, and Al; and an insulating film that is provided on a surface of the core particle and that contains a ceramic, in which a thickness of the insulating film is 5 nm or more and 300 nm or less, and the oxide contained in the oxide film and the ceramic contained in the insulating film are mutually diffused at an interface between the oxide film and the insulating film.