In a method of manufacturing a chip resistor, a semi-product is formed by sandwiching an electric-insulating material layer between an electric-conducting material layer and a heat-dissipating material layer. Resistor sections arranged in an array on the semi-product are formed by forming longitudinal first slots and transverse second slots through the semi-product. Slits are formed on a first layer of each resistor section to form a resistor main body. A dividing slot is formed on a second layer of each resistor section. Two electrodes are formed to be electrically connected to opposite ends of the resistor main body. The resistor sections are trimmed from the semi-product to obtain the chip resistors.