A coil component includes a support substrate and a coil portion disposed on the support substrate, a body in which the support substrate and the coil portion are embedded, first and second lead portions extending from the coil portion and respectively exposed to a surface of the body, a surface insulating layer disposed on the surface of the body and having openings respectively exposing the first and second lead portions, and first and second external electrodes disposed on the surface insulating layer and connected to the first and second lead portions exposed through the openings. Each of the first and second external electrodes includes a first metal layer formed of a metal and in direct contact with the first and second lead portions.