Disclosed is a wafer level package having a cylindrical capacitor, which is capable of increasing electrostatic capacity thanks to the use of a cylindrical capacitor structure and which includes a wafer chip having a bonding pad formed thereon and an insulating layer formed thereon and exposing the bonding pad, a redistribution layer connected to the bonding pad and extending to one side of the insulating layer, a cylindrical outer electrode connected to the redistribution layer and having a center opening therein, a cylindrical inner electrode formed in the center opening of the outer electrode so as to be separated from the outer electrode, a dielectric layer formed between the outer electrode and the inner electrode, and a resin sealing portion formed on the insulating layer to cover the redistribution layer, the inner electrode, the outer electrode and the dielectric layer and having a first recess for exposing an upper surface of the inner electrode. A method of fabricating the wafer level package having a cylindrical capacitor is also provided.