A method of fabricating a cavity capacitor embedded in a printed circuit board including two conductive layers to be used as a power layer and a ground layer, respectively, and a first dielectric layer, placed between the two conductive layers, the method including: removing an upper conductive layer and the first dielectric layer excluding a lower conductive layer of the two conductive layers to allow a cavity to be formed between the two conductive layers, the lower conductive layer being supposed to be used as any one of electrodes of the cavity capacitor; stacking a dielectric material on the cavity to allow a second dielectric layer having a lower stepped portion than the first dielectric layer to be formed in the cavity; and stacking a conductive material on an upper part of the second dielectric layer and side parts of the cavity to allow the upper conductive layer to be used as the other electrode of the cavity capacitor.