A multilayer electronic component includes a body including a capacitance formation portion in which a plurality of dielectric layers and a plurality of internal electrodes are alternately disposed in a first direction, a first cover portion disposed on one surface of the capacitance formation portion in the first direction and including a dielectric layer, and a second cover portion disposed on the other surface of the capacitance formation portion in the first direction and including a dielectric layer; and an external electrode disposed on the body, wherein a molar ratio of Sn/(Ni+Sn) measured in a central portion of an internal electrode disposed closest to the first cover portion or the second cover portion is 0.00160 or more and 0.0230 or less, and a molar ratio of Sn/(Ni+Sn) measured in a central portion of at least one internal electrode, among the plurality of internal electrodes, is 0.00066 or less.