A multilayer ceramic electronic component includes a laminated body, a first external electrode, a pair of second external electrodes, and a pair of insulating coating portions. The insulating coating portions extend in a laminating direction between each of the second external electrodes and the first external electrode on a second principal surface, and from the second principal surface to respective portions of first and second side surfaces. A maximum thickness of the first external electrode on the second principal surface is larger than a maximum thickness for each of the second external electrodes on the second principal surface. A maximum thickness for each of the insulating coating portions on the second principal surface is larger than the maximum thickness of the first external electrode on the second principal surface.