A package structure is disclosed, which includes: a carrier having a recessed portion formed on a lower side thereof and filled with a dielectric material; a semiconductor element disposed on an upper side of the carrier and electrically connected to the carrier; and an encapsulant formed on the upper side of the carrier for encapsulating the semiconductor element. Therein, the dielectric material is exposed from the encapsulant. As such, when the carrier is disposed on a circuit board, the dielectric material is sandwiched between the lower side of the carrier and the circuit board to form a decoupling capacitor, thereby improving the power integrity.