A coil component includes a body having a volume of 2.4 mm3 or less and including at least one coil member embedded therein, and first and second external electrodes partially or entirely formed on first and second surfaces of the body opposing each other, respectively, wherein the product of inductance Ls (μH) and S/l (mm) is 0.45 (μH·mm) or more to 0.75 (μH·mm) or less in which S (mm2) is an area of regions of the first and second external electrodes disposed on the first and second surfaces of the body, and 1 (mm) is a minimum spaced distance between the first and second external electrodes formed on the first and second surfaces of the body.