Chip discharge during high-feed machining and low-feed machining particularly in a high-depth-of-cut state or the like is improved so as to provide adaptability to a wide range of cutting conditions during low depth and high depth cutting and during low-feed and high-feed machining and allow so-called freedom of feed during cutting to be improved. A cutting insert includes a cutting edge body and a substrate to which the cutting edge body is joined. The cutting edge body has a prismatic shape having a longitudinal direction and a lateral direction perpendicular to the longitudinal direction and includes a cutting edge formed on an intersecting edge between a peripheral side surface and an upper surface of the cutting edge body having the prismatic shape and a recessed part formed at a position on the upper surface of the cutting edge body which is more distant from the intersecting edge than from the cutting edge. The substrate has a projected part upwardly projecting from the upper surface of the cutting edge body.