An electronic component is mounted on a substrate so as to be in contact with a non-reciprocal circuit element. Therefore, there is no risk of the electronic component, which is arranged so as to be in contact with the non-reciprocal circuit element, being displaced as a result of being shifted by the magnetic force of permanent magnets included in the non-reciprocal circuit element and displacement of the electronic component as a result of being shifted by the magnetic force of the permanent magnets can be prevented. Therefore, since there is no risk of the electronic component being displaced by being shifted by the magnetic force of the permanent magnets, a space in which to mount a member that would function as an electromagnetic shield, such as a yoke, need not be provided on the substrate and the composite electronic module can be reduced in size and profile.