A multilayer coil electronic component having improved inductance L, Q, and strength, and which has an element in which a coil conductor and a magnetic element body are stacked. The magnetic element body includes soft magnetic metal particles and a resin. The resin fills a space between the soft magnetic metal particles. Each of soft magnetic metal particles has a soft magnetic metal particle core and an oxide film covering the soft magnetic metal particle core. A layer of the oxide film contacting the soft magnetic metal particle core is made of an oxide including Si.