To significantly reduce the manufacturing cost of an inductance element, which is used as a saturable inductor, etc., and, in addition, to improve the efficiency in winding work, while the proper inductance characteristic of the element is maintained, and at the same time, to reduce the size of the element and improve the performance of the element.

A coil 4 is formed by winding a winding 3 around a cylindrical bobbin 1, having a hollow section 2 both ends of which are opened. A closed magnetic circuit structure is formed by arranging one or a plurality of thin magnetic belts 5, having a thicknesses of 4-50 μm in and through the hollow section 2 and magnetically coupling both end sections of the belts 5 with each other, while the end sections are bent. The ratios (t/R) of a thicknesses t of the belts 5 to the minimum bending radii R of the bent sections of the belts 5 are adjusted to ≥0.5%. Alternatively, ratio (L/T) of a distance L between the winding 3 and the magnetic thin belt arranged on the outside of the bobbin 1 to a thickness T of the winding 3 is adjusted to ≤5.