A substrate structure, a semiconductor package and a manufacturing method of semiconductor package are provided. The substrate structure comprises a conductive structure, an electrical component, a package body and a ring-shaped conductive structure. The conductive structure comprises a first conductive layer and a second conductive layer. The first conductive layer has a lower surface. The second conductive layer and the electrical component are formed on the lower surface of the first conductive layer. The package body encapsulates the conductive structure and the electrical component and has an upper surface. The ring-shaped conductive structure surrounds the conductive structure and the electrical component and is disposed at the edge of the upper surface of the package body to expose the conductive structure.