Provided is a ceramic electronic component including a magnetic body part 2 composed of a ferrite material and a conductive part 3 containing Cu as its main constituent, the magnetic body part 2 containing trivalent Fe and divalent elements including at least divalent Ni, and the content of the Fe being 20 to 48% in molar ratio in terms of Fe 2 O 3 . The magnetic body part 2 contains Mn in such a way that the ratio of Mn to the total of Fe and Mn is less than 50% in molar ratio each in terms of Mn 2 O 3 and Fe 2 O 3 . The magnetic body part 2 and the conductive part 3 are obtained by co-firing in an atmosphere at a pressure equal to or lower than the equilibrium oxygen partial pressure of Cu-Cu 2 O. Thus, even in the case of co-firing the conductive part 3 containing Cu as its main constituent with the magnetic body part 2, insulating performance can be ensured, and favorable electrical characteristics can be achieved.