The manufacturing method of a chip electronic component may include: forming a coil pattern part on at least one surface of an insulating substrate; forming a thin polymer insulating film to follow a surface shape of the coil pattern part; forming a primer insulating layer on one surface of a magnetic sheet; disposing the magnetic sheet on which the primer insulating layer is formed on an upper portion and a lower portion of the insulating substrate on which the coil pattern part is formed and pressing the magnetic sheet to form a magnetic body in which an additional insulating film is formed on the coil pattern part; and forming an external electrode on at least one end surface of the magnetic body so as to be connected to the coil pattern part.