A multilayer coil component includes an element body that includes a plurality of insulating layers laminated together, a coil that is embedded in the element body and that includes a coil conductor layer provided between the insulating layers, and a first outer electrode and a second outer electrode each of which is provided on at least one of outer surfaces of the element body and each of which is electrically connected to the coil. A dissimilar-material layer that is made of a material different from the insulating layers is provided on at least one of the outer surfaces of the element body that extend in a lamination direction in which the plurality of insulating layers are laminated together.