A circuit board including a circuit substrate, a first dielectric layer, an antagonistic activation layer, a first conductive layer, a second conductive layer and a second dielectric layer is provided. The circuit substrate has a first surface and a first circuit layer. The first dielectric layer is disposed on the circuit substrate and covers the first surface and the first circuit layer. The first dielectric layer has a second surface, at least a blind via extending from the second surface to the first circuit layer and an intaglio pattern. The antagonistic activation layer is disposed on the second surface of the dielectric layer. The first conductive layer is disposed in the blind via. The second conductive layer is disposed in the intaglio pattern and the blind via and covers the first conductive layer. The second conductive layer is electrically connected with the first circuit layer via the first conductive layer.