A multilayer ceramic electronic component includes: a ceramic body including dielectric layers and internal electrodes, stacked to be alternately exposed to one end surface and the other end surface of the ceramic body, with each of the dielectric layers interposed therebetween; and external electrodes disposed on outer surfaces of the ceramic body. The external electrodes include electrode layers connected to the internal electrodes, electrically insulating layers disposed on the electrode layers, and plating layers disposed on one surface of the ceramic body in a thickness direction of the ceramic body and connected to the electrode layers, respectively, and the electrode layers contain nickel.