A coil electronic component includes a support substrate, a coil pattern disposed on at least one surface of the support substrate, a lead-out pattern disposed on at least one surface of the support substrate to be connected to the coil pattern, an encapsulant disposed to encapsulate the support substrate, the coil pattern, and at least one portion of the lead-out pattern, and an external electrode disposed on an external surface of the encapsulant to be connected to the lead-out pattern. The lead-out pattern includes a slit disposed on a side of a region facing the external electrode. The slit is exposed in a direction toward the external electrode and in a direction away from the support substrate, on the basis of a thickness direction of the support substrate, and is not connected to the support substrate.