A coaxial connector has a metal shell, an insulative housing and a terminal. The metal shell has a body, a cavity defined in the body and a clamping cover formed on the body. The insulative housing is mounted in the cavity and has a base, a chamber defined in the base and a wire-pressing member being resilient and formed on the base. The terminal is mounted in the chamber and has a plate aligned with the wire-pressing member and two contacting arms protruding from the plate. When a coaxial cable is connected to the coaxial connector, the wire-pressing member is bent to precisely position a core wire of the coaxial cable on the plate and stabilize signal transmission between the coaxial connector and a coaxial cable.