An integrated circuit package with embedded passive structures may include first and second integrated circuit dies that are surrounded by capacitor structures. A molding compound is deposited to encapsulate the integrated circuit dies and the capacitor structures. The molding compound is then attached to a redistribution wafer, in which the integrated circuit dies and the capacitor structures are electrically connected to metal routing layers of the redistribution wafer. A conductive layer is subsequently formed over the first integrated circuit die in the molding compound. The conductive layer is made up of additional metal routing layers and inductor structures. The integrated circuit package may further include a group of conductive vias that is formed in the molding compound. Each conductive via has a first end contacting the metal routing layers of the distribution wafer, and a second end contacting the conductive layer.