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 pair of insulating coating portions extends in a laminating direction between each of the pair of second external electrodes and the first external electrode on a second principal surface, from the second principal surface to respective portions of a first side surface and a second side surface. A maximum thickness of the first external electrode on the second principal surface is larger than a maximum thickness of the pair of second external electrodes on the second principal surface. The maximum thickness of the pair of second external electrodes on the second principal surface is larger than a maximum thickness of the pair of insulating coating portions on the second principal surface.