There are provided a multilayer ceramic electronic component and a method of manufacturing the same, the multilayer ceramic electronic component, including: a ceramic body including a plurality of dielectric layers laminated therein, each dielectric layer having an average thickness of 0.65 μM or less; internal electrodes disposed to face each other while having each dielectric layer interposed therebetween in the ceramic body; and external electrodes electrically connected to the internal electrodes, wherein, when td denotes the average thickness of each of the dielectric layers and te denotes an average thickness of each of the internal electrodes, te/td≦0.77 is satisfied.