A coil electronic component includes a support substrate including a metal plate having a plurality of through-holes formed therein, a coil pattern disposed on at least a surface of the support substrate and having a core region in the center of the coil pattern, an encapsulant disposed on at least a portion of the support substrate, the coil pattern, and at least a portion of the metal plate, and an external electrode disposed outside of the encapsulant and connected to the coil pattern.