A chip resistor includes a resistor main body, an insulating layer, a heat dissipating layer, and two electrodes. The resistor main body is formed with plural longitudinally extending slits arranged and spaced apart from one another. The resistor main body has transversely opposite ends connected electrically and respectively to the electrodes. The heat dissipating layer dissipates heat generated by the resistor main body and is formed with a dividing slot extending across one of the slits and dividing the heat dissipating layer into two transversely spaced-apart portions. The insulating layer is sandwiched between the resistor main body and the heat dissipating layer and electrically insulates the heat dissipating layer from the resistor main body.