A multilayer coil component includes an element body that contains a plurality of metal magnetic particles made of a soft magnetic material, and at least two conductors that are in contact with the element body. Surfaces of the plurality of metal magnetic particles are covered by an oxide film having an insulating property, an insulating portion having an insulating property is formed in at least a part of a surface of at least one conductor of the two conductors in the conductor, and a thickness of the insulating portion is larger than a thickness of the oxide film.