A multilayer ceramic electronic component includes a ceramic body having a capacitance forming portion including dielectric layers and first and second internal electrodes laminated with respective dielectric layers interposed therebetween, a first external electrode connected to the first internal electrode and including a first conductive layer and a first band portion, and a second external electrode connected to the second internal electrode and including a second conductive layer and a second band portion. Tb/Tc is 0.85 or more, where Tc is a maximum thickness of each of the first and second conductive layers and Tb is a maximum thickness of each of the first and second band portions.