A multilayer coil component includes an element body made of a ferrite sintered body and a coil. The coil is configured with a plurality of internal conductors juxtaposed in the element body and electrically connected to one another. An average crystal grain size in a surface region of the element body is smaller than an average crystal grain size in a region between the internal conductors in the element body. A surface of the element body is covered with a layer made of an insulating material. The insulating material is not present among the crystal grains in the surface region of the element body.