A coil electronic component may include a magnetic body that has a first surface and a second surface facing each other, a first coil embedded in the magnetic body and wound around a first core, a second coil embedded in the magnetic body and wound around a second core that is spaced apart from the first core, a first external electrode and a second external electrode disposed on the second surface of the magnetic body and connected to the first coil, and a third external electrode and a fourth external electrode disposed on the second surface of the magnetic body and connected to the second coil, and a first distance from the first coil and the second coil to the first surface is larger than a second distance from the first coil and the second coil to the second surface.