A multilayer ceramic electronic component includes a ceramic body and first and second external electrodes. The ceramic body includes an active region including a plurality of dielectric layers and first and second internal electrodes alternately disposed on surfaces of the plurality of dielectric layers to contribute to capacitance formation, and a protective layer provided on at least one of upper and lower surfaces of the active region. The first and second external electrodes are electrically connected to the first and second internal electrodes, respectively, and formed on both end surfaces of the ceramic body. The ceramic body includes a plurality of first and second dummy electrodes respectively extended from the second and first external electrodes into length-direction margin parts of the active region so as to face the first and second internal electrodes, respectively. Further, step portion absorbing layers are disposed in width-direction margin parts of the active region.