A multilayer ceramic electronic component includes: a ceramic body and first and second external electrodes on external surfaces of the ceramic body. The ceramic body includes first and second internal electrodes facing each other with dielectric layers interposed therebetween. The ceramic body includes an active portion in which capacitance is formed and cover portions on upper and lower surfaces of the active portion, respectively. The ratio of the thickness of the first and second external electrodes to the thickness of the cover portion is proportional to the inverse of the cube root of the ratio of the Young's Modulus of each of the first and second external electrodes to the Young's modulus of the cover portion.