An electronic component capable of preventing the occurrence of magnetic saturation due to a magnetic flux surrounding each coil conductor and a method of manufacturing the electronic component are provided. The electronic component includes a laminate formed by stacking unit layers, where each unit layer includes a first insulating layer, and a coil conductor and second insulating layer formed on the first insulating layer. Each second insulating layer has a Ni content greater than a Ni content of each first insulating layer. Portions of the first insulating layers have a Ni content lower than a Ni content of the second portions after the laminate is calcined.