A mounting substrate and a method of manufacturing the mounting substrate. The mounting substrate can include an insulation layer, a bonding pad buried in one side of the insulation layer in correspondence with a mounting position of a chip, and a circuit pattern electrically connected to the bonding pad. By utilizing certain embodiments of the invention, the process for stacking a solder resist layer can be omitted, as the bonding pads can be implemented in a form recessed from the surface of the insulation layer. In this way, the manufacturing process can be simplified and manufacturing costs can be reduced. Since the surface of the mounting-substrate on which to mount a chip can be kept flat without any protuberances, the occurrence of voids in the underfill can be minimized. This is correlated to obtaining a high degree of reliability, and leads to a greater likelihood of successful mounting.