A composite magnetic material manufactured by mixing a metal magnetic powder with an insulating binder to produce a mixed powder, press-molding the mixed powder to produce a molded product, and heat-treating the molded product in an oxidizing atmosphere at not lower than 80° C. and not higher than 400° C. to form an oxide film on a surface of the molded product. The metal magnetic powder includes Si, Fe, and component A, and the composition thereof satisfies 5.5%≦Si≦9.5%, 10%≦Si+component A≦13.5%, and the remainder is Fe, where % denotes weight %. The component A includes at least one of Ni, Al, Ti, and Mg.