To provide a cutting insert such that a tool body can sufficiently hold the cutting insert even if one of cutting parts is broken. The cutting insert includes two side surfaces opposed to each other, a fixing hole passing through the centers of the two side surfaces, and an outer circumferential surface that is disposed between the outer circumferential edges of the two side surfaces and are connected to the outer circumferential edges of the two side surfaces. The outer circumferential surface includes four cutting parts, a first outer circumferential surface part that is disposed between the first cutting part and the second cutting part, and a second outer circumferential surface part that is opposed to the first outer circumferential surface part and is disposed between the third cutting part and the fourth cutting part. In a side view of the side surfaces from the axial direction of the fixing hole, the first outer circumferential surface part and the second outer circumferential surface part each have the center recessed toward the fixing hole, and a virtual arc having the same diameter as the diameter of the circumcircle of the cutting insert is in contact with two points on each of the outer circumferential surface parts.