In a multilayer ceramic electronic component, internal electrodes arranged inside a ceramic body include exposed ends that are connected to end surfaces of the ceramic body. External electrodes, which are arranged on the end surfaces so as to be electrically connected to the internal electrodes, include first conductive portions that are arranged on the end surfaces so as to cover the exposed ends but so as not to wrap around onto the side surfaces, and include second conductive portions that are arranged on the end surfaces so as to cover the first conductive portions and so as to wrap around onto the principal surfaces and the side surfaces. In each external electrode, protruding portions are arranged on the end surface adjacent to the first conductive portion to stabilize the posture of the ceramic body when the second conductive portions are being formed.