A power amplification circuit that includes: a capacitor element in which a first metal layer, a first insulating layer, a second metal layer, a second insulating layer and a third metal layer are sequentially stacked, the capacitor element including a first capacitor in which the first metal layer serves as one electrode thereof and the second metal layer serves as another electrode thereof, and a second capacitor in which the second metal layer serves as one electrode thereof and the third metal layer serves as another electrode thereof; and a transistor that amplifies a radio-frequency signal. The radio-frequency signal is supplied to the one electrode of the first capacitor. The other electrode of the first capacitor and the one electrode of the second capacitor are connected to a base of the transistor, and the other electrode of the second capacitor is connected to the emitter of the transistor.