Two parts of magnetic layers are placed so as to clamp a coil forming unit consisting of an alternated laminate of non-magnetic layers and electrode layers. The coil forming unit is surrounded by the magnetic body to form a closed magnetic circuit. When manufacturing the laminated transformer, a plurality of sets of U-shaped electrodes are deposited on non-magnetic green sheets. Then, the non-magnetic green sheets are laminated to form the coil forming unit consisting of the alternated laminate of the non-magnetic layers and the electrode layers. Magnetic green sheets are laminated thereto and clamp the non-magnetic green sheets therebetween to form a laminate. The laminate is pressed and additional magnetic body portions are formed in the center and on the side faces of the coil forming units. The laminate is pressed and cut into green elements. The green elements are sintered into monolithic bodies of the laminated transformer.