A coil component includes a support member, an internal coil supported by the support member, and external electrodes connected to the internal coil. The external electrodes may each include a first layer coming into contact with the internal coil and a second layer disposed on a surface of the first layer. The first layer may serve as a buffer layer for improving a contact property between the internal coil and the external electrode. The second layer may be disposed to come into at least partial contact with a first end portion of the support member and a second end portion of the support member.