A component-incorporated substrate of multi-layer structure includes: a plurality of printed wiring base members that are batch-laminated via an adhesive layer, with the plurality of printed wiring base members including a resin base member that includes a wiring pattern on at least one surface thereof and a via connected to the wiring pattern; an opening disposed in at least one printed wiring base member that is sandwiched on both sides by other printed wiring base members of the plurality of printed wiring base members; and an electronic component disposed in the opening. At least part of the wiring pattern of the printed wiring base member where the opening is formed is disposed in a frame shape surrounding the opening, in a periphery of the opening.