In a multilayer coil component, a ferrite element body includes a first element body portion and a second element body portion adjacent to each other in an axial direction of the multilayer coil, in which a dielectric constant of the second element body portion is lower than a dielectric constant of the first element body portion, and a magnetic permeability of the second element body portion is higher than a magnetic permeability of the first element body portion. The inventors newly found that the first element body portion and the second element body portion contribute to coil characteristics when a coil winding portion is provided to extend over the first element body portion and the second element body portion. In the multilayer coil component, desired coil characteristics can be obtained by adjusting proportions of the first element body portion and the second element body portion in the ferrite element body.