A coil electronic component includes a support substrate; first and second coil patterns disposed on an upper surface and a lower surface of the support substrate, respectively; an encapsulant covering at least portions of the support substrate and the first and second coil patterns; and first and second external electrodes connected to the first and second coil patterns, respectively, and disposed on portions of a lower surface of the encapsulant, wherein at least one portion of a lower surface of the first coil pattern is exposed from the encapsulant, at least one portion of a lower surface of the second coil pattern is exposed from the encapsulant, and the first and second external electrodes are respectively connected to the at least one portion of the lower surface of the first coil pattern and the at least one portion of the lower surface of the second coil pattern.