To obtain a two-port type isolator that can be miniaturized, and to obtain a communication device.

The two-port type isolator has a center electrode assembly 30 comprising ferrite 31 within which first and second center electrode 35, 36 electrically insulated each other are formed inside, and a permanent magnet. The ferrite 31 is in a rectangular parallelepiped shape having first and second main surfaces 31a, 31b that are parallel mutually and are disposed in a vertical direction on a circuit board 20. The permanent magnet is disposed on the circuit board 20 so that a magnetic field is applied to the main surfaces 31a, 31b of the ferrite 31 in nearly a vertical direction. The first and second center electrodes 35, 36 are wound in a winding shape each, and the second center electrode 36 is wound so that the winding axis becomes nearly parallel to the circuit board 20.