A packaging substrate structure with electronic components embedded therein and a method for manufacturing the same are disclosed. The packaging substrate structure comprises: a core board; a built-up structure disposed on at least one surface of the core board, wherein the built-up structure has a plurality of conductive pads and an electronic component-disposing part on the surface thereof; a solder mask disposed on the surface of the built-up structure, where the solder mask has a open area to expose the electronic component-disposing part and a plurality of openings to expose the conductive pads of the built-up structure; and an electronic component disposed on the electronic component-disposing part and in the open area. Accordingly, the packaging substrate disclosed by the present invention exhibits enhanced electrical performance and product reliability.