A multilayer coil component includes a multilayer body formed by stacking a plurality of insulating layers on top of one another and that has a coil built thereinto, and a first outer electrode and a second outer electrode that are electrically connected to the coil. The coil is formed by electrically connecting a plurality of coil conductors to one another. A first main surface of the multilayer body is a mounting surface. A stacking direction of the multilayer body and an axial direction of the coil are parallel to the mounting surface. The insulating layers between the coil conductors are composed of a material containing at least one out of a magnetic material and a non-magnetic material. A content percentage of the non-magnetic material in the insulating layers changes in a direction from a first end surface toward a second end surface of the multilayer body.