The invention provides a chip coil component and a circuit board for mounting the same. The chip coil component comprises a main body including plurality of magnetic layers and meeting T/W>1.0, wherein T represents the thickness of the main body, and W represents the width of the main body; an inner coil portion located in the main body, and comprising inner coil patterns located on magnetic layers; and external electrodes located on at least one end surface of the main body and connected to the inner coil portion, wherein at least one edge of the main body is circular in the length, width and thickness directions of the main body, and the length of the circular portion of the end surface of the main body in the length direction is d, meeting d/W<=0.03. The chip coil component of the invention has a high capability and is highly reliable.