A circuit board structure includes an inner circuit structure and a first build-up circuit structure. The inner circuit structure includes a core layer having an upper surface and a lower surface, a first patterned circuit layer disposed on the upper surface, a second patterned circuit layer disposed on the lower surface and a conductive through hole connecting the first and the second patterned circuit layers. The first build-up circuit structure at least has a cavity and an inner dielectric layer. The inner dielectric layer has an opening communicating the cavity and a pad of the first patterned circuit layer is located in the opening. A hole diameter of the opening is smaller than a hole diameter of cavity. An inner surface of the inner dielectric layer exposed by the cavity and a top surface of the pad are coplanar or have a height difference.