A multilayer electronic component includes: a body including dielectric layers and internal electrodes disposed alternately with the dielectric layers; and external electrodes disposed on the body, wherein each of the external electrodes includes: an electrode layer connected to the internal electrodes; a first intermetallic compound layer disposed on the electrode layer and including Cu3Sn; a second intermetallic compound layer disposed on the first intermetallic compound layer and including Cu6Sn5; and a conductive resin layer disposed on the second intermetallic compound layer and including a conductive connection portion including a low melting point metal, a plurality of metal particles, and a base resin, and an average thickness of the first intermetallic compound layer is 0.5 to 2.5 μm.