A coil component includes an insulating base body and a coil conductor arranged in the base body and having a winding portion extending around a coil axis. The insulating base body includes a magnetic body portion made of a magnetic material and a magnetic gap portion made of a low-permeability material having a lower relative permeability than the magnetic material. The magnetic gap portion is shaped like a ring when seen in a direction along the coil axis and arranged within the winding portion. The magnetic body portion includes a first region positioned within the winding portion, a second region positioned opposite the first region with respect to the magnetic gap portion in the direction along the coil axis, and a third region arranged within a through hole defined by an inner peripheral surface of the magnetic gap portion, where the third region connects together the first and second regions.