A multilayer electronic component includes a multilayer capacitor including a capacitor body and a plurality of external electrodes spaced apart from each other on a mounting surface of the capacitor body, and a connection terminal including a plurality of land portions disposed on the plurality of external electrodes, respectively. When a thickness of the multilayer capacitor is defined as T1 and a distance from an uppermost end of the plurality of external electrodes to a bottom of the connection terminal is defined as T2, T1/T2 is 0.6 to 0.9.