A coil component includes a body having one surface and another surface opposing each other, opposing end surfaces each connecting the one surface and the other surface to each other, and opposing side surfaces each connecting the end surfaces to each other. An internal insulating layer is embedded in the body, and a coil portion is disposed on at least one surface of the internal insulating layer and includes the first and second lead-out portions. The body has a recess disposed in each end surface of the body to expose the first and second lead-out portions. First and second external electrodes each include a connection portion disposed in the recess to be connected to a respective one of the first and second lead-out portions, and each include a pad portion disposed on the one surface of the body. A filling portion fills the recess and covers the connection portion.