There are provided a multilayer ceramic electronic component and a mounting board therefor, the multilayer ceramic electronic component, including a ceramic body having a hexahedral shape, including dielectric layers, and satisfying T/W1.0 when a length of the ceramic body is defined as L, a width of the ceramic body is defined as W, and a thickness of the ceramic body is defined as T, and first and second internal electrodes stacked in the ceramic body to face each other, having the respective dielectric layers interposed therebetween.