A multilayer capacitor includes a body including a laminate structure in which at least one first internal electrode and at least one second internal electrode are alternately stacked in a first direction with at least one dielectric layer therebetween, and first and second external electrodes spaced apart on the body, to be connected to at least one first internal electrode and at least one second internal electrode, respectively. The body includes, in a larger molar content, at least one selected from the group consisting of Dy, Tb, Y, Sm, Ho, Gd, Er, Ce, La and Nd in a capacitance formation region including a region between at least one first internal electrode and at least one second internal electrode than in a margin region including a region between a boundary line of at least one first internal electrode and at least one second internal electrode and a surface of the body.