A power module and a manufacturing method thereof are disclosed. The power module includes a magnetic component, a bare power chip and a conductive set. The magnetic component includes a first surface and a second surface opposite to each other. The bare power chip is disposed on the magnetic component and includes a third surface and a fourth surface opposite to each other. The conductive set is disposed on the magnetic component and electrically connected with the magnetic component and the bare power chip. The third or fourth surface of the bare power chip is at least partially attached on the first or second surface of the magnetic component, and at least partially included in a projected envelopment of the corresponding first or second surface of the magnetic component, so as to facilitate the magnetic component to support the bare power chip.