A multilayer ceramic electronic component includes a ceramic body including dielectric layers and first and second internal electrodes, first and second external electrodes disposed on first and second external surfaces of the ceramic body, respectively, the first and second external electrodes each including first and second base electrode layers having at least a portion in contact with first and second external surfaces of the ceramic body, respectively, and first and second plating layers, and a water repellent layer including a portion disposed to cover a gap between the ceramic body and the first and second plating layers, having a first thickness and a portion disposed to cover a surface of the ceramic body, to having a second thickness, smaller than the first thickness.