A multilayer ceramic electronic component includes a ceramic body including dielectric layers and first and second internal electrodes alternately laminated with respective dielectric layers disposed therebetween, 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 disposed to cover the first and second base electrode layers, respectively, and a water repellent layer disposed to cover both external side surfaces of the first and second plating layers and a surface of the ceramic body.