A multilayer ceramic electronic component includes a ceramic body, and first and second external electrodes disposed on the surface of the ceramic body, respectively. The ceramic body includes a capacitance forming portion including a dielectric layer and internal electrodes, margin portions disposed on both sides of the capacitance forming portion, and cover portions disposed on both sides of the capacitance forming portion. The first and second external electrodes include first and second base electrodes, respectively, first and second conductive layers disposed on edges of the first and second base electrodes, respectively, and first and second terminal electrodes covering the first and second base electrodes, respectively.