In a combined isolation oxide film (BT1), a part closer to a gate electrode (GT13) reaches a buried oxide film (2) through an SOI layer (3) while a part closer to another gate electrode (GT12) has a sectional shape provided with a well region on its lower portion. The shape of an edge portion of the combined isolation oxide film (BT1) is in the form of a bird's beak in a LOCOS isolation oxide film. Consequently, the thicknesses of portions defining edge portions of the gate oxide films (GO12, GO13) are locally increased. Thus provided are a semiconductor device including a MOS transistor having a gate oxide film prevented from dielectric breakdown without increasing its thickness and a method of manufacturing the same.