Disclosed is a chip component including a substrate having a first surface and a second surface on an opposite side from the first surface, and a third surface connecting the first surface and the second surface to each other, an external surface resin configured to cover at least the third surface of the substrate, and a terminal electrode formed on the first surface of the substrate and exposed from the external surface resin. A recessed portion is formed in an end portion of the third surface of the substrate, the end portion being on the first surface side. The external surface resin is embedded in the recessed portion.