A multilayer capacitor includes a capacitor body including a dielectric layer and a plurality of internal electrodes, and external electrodes disposed on both ends of the capacitor body and connected to exposed portions of the plurality of internal electrodes, respectively. Each of the external electrodes includes a conductive layer disposed on the capacitor body to be connected to one or more of the plurality of internal electrodes, a conductive resin layer covering the conductive layer, and including a plurality of metal particles, a plurality of elastic fine powder particles each having an elastic powder particle and a metal film plated on a surface of the elastic powder particle, and a conductive resin surrounding the plurality of metal particles and the plurality of elastic fine powder particles and contacting the conductive layer, and a plating layer covering the conductive resin layer.