The present invention is a chip electronic part having: a ceramic member; a conductor pattern formed on the surface of the ceramic member; an insulating protective layer formed on the conductor pattern; an external electrode which is formed at least one end face of the ceramic member, electrically connected to the conductor pattern, and composed of an undercoating layer formed by dry plating and at least one plating layer formed by wet plating; and at least one groove formed near an end face of the insulating protective layer so as to limit the formation of the undercoating layer.