A multilayer substrate includes a dielectric substrate, a pair of capacitor electrodes, and an input/output electrode that is an electrode for input, an electrode for output, or an electrode for input and output. The dielectric substrate has a first main surface and a second main surface that are opposite to each other in a thickness direction of the dielectric substrate. The pair of capacitor electrodes is disposed in the dielectric substrate. Electrodes of the pair of capacitor electrodes face each other in the thickness direction. The input/output electrode is disposed on the second main surface of the dielectric substrate. A capacitor that includes the pair of capacitor electrodes and a portion being part of the dielectric substrate and located between the electrodes of the pair of capacitor electrodes at least partially overlaps the input/output electrode electrically connected to the capacitor.