A position indicator includes a tubular core member comprising a first magnetic core, a second magnetic core, a first coil, a second coil, a rod, a pen-pressure detecting element, a capacitor, and a switch. At least one of the first and second magnetic cores includes a recessed portion extending in the axial direction so as to form a through-hole when the first and second magnetic cores are combined, and the rod is inserted through the hole. The first coil is wound around the tubular core member, and the second coil is wound around the second magnetic core. The pen-pressure detecting element detects a pressure applied to an end of the rod (i.e., the pen tip). The capacitor is connected to the first coil to form a resonant circuit. The switch controls “on” and “off” states of the second coil to calculate a rotation angle of the position indicator.