The present invention provides a circuit board structure with an embedded semiconductor chip and a method for fabricating the same. The circuit board structure includes a carrier board having a first surface, a second surface, and a through hole penetrating the carrier board from the first surface to the second surface; a semiconductor chip having an active surface whereon a plurality of electrode pads are formed and a non-active surface, embedded in the through hole; a photosensitive first dielectric layer formed on the first surface of the carrier board and an opening formed thereon to expose the non-active surface of the semiconductor chip; a photosensitive second dielectric layer formed on the second surface of the carrier board and the active surface of the semiconductor chip.