An electromagnetically-shielded high-Q inductor may be fabricated within a multi-layer package substrate (MLS). The inductor is preferably constructed as a loop structure on a layer of the MLS, and a shielding structure is formedaround the inductor to substantially enclose the inductor in a Faraday cage-like enclosure. The shielding structure includes a top plate formed above the inductor on another layer of the MLS, and a bottom plate formed on yet another layer of the MLS or on a layer of an integrated circuit die which is below and attached to the MLS, preferably using solder bumps. Shielding structure sidewalls may be formed by a ring of stacked vias or via channels. The inductor is preferably connected to stacked vias which provide a connection to the underlying integrated circuit die by way of additional solder bumps and cut-outs through the bottom plate of the shielding structure.