A component-embedded substrate includes a cavity including through-holes penetrating through resin sheets in a stacked body of resin sheets having flexibility. An electronic chip component including external electrodes is disposed in the cavity. The resin sheet on which the electronic chip component is located is provided with through-holes into which conductive pastes are filled. The resin sheet includes cut-away portions communicating with a through-hole and located at a distance from each other across the through-hole. When this stacked body is hot-pressed, the conductive pastes overflow from the through-holes. However, the overflowing conductive pastes enter the cut-away portions.