A coil component includes: a first coil layer; and a second coil layer disposed on the first coil layer, wherein the first coil layer includes a first insulating layer and a first coil conductor embedded in the first insulating layer, the second coil layer includes a second insulating layer and a second coil conductor embedded in the second insulating layer, the first and second coil conductors are electrically connected to each other by a through-conductor formed in the first insulating layer, and cavities vertically penetrating through the first and second coil layers are provided in core regions of the first and second coil layers, respectively.