A sintered body that includes ceramic layers and an internal electrode which are alternately stacked on one another is prepared. A first external electrode is formed on a side surface of the sintered body such that the first external electrode is connected to the internal electrode. An insulating layer is formed on a surface of the sintered body by applying a glass coating over an entire of the sintered body having the formed first external electrode. The insulating layer is exposed from the first external electrode. A second external electrode is formed on the first external electrode. This method provides the produced multilayer electronic component with a stable electric connection between the internal electrodes and the external electrodes.