A highly reliable multilayer coil component in which the internal stress is further alleviated, and a method for producing the same. The method produces a multilayer coil component that includes an insulator portion, a coil that is embedded in the insulator portion and includes a plurality of coil conductor layers electrically connected to one another, and an outer electrode that is disposed on a surface of the insulator portion and is electrically connected to an extended portion of the coil. The method includes forming a conductive paste layer by using a conductive paste; forming an insulating paste layer by using an insulating paste; forming a multilayer compact that includes the conductive paste layer and the insulating paste layer; and firing the multilayer compact, in which the conductive paste has a PVC of 60% or more and 80% or less (i.e., from 60% to 80%).