A multilayer ceramic electronic component includes a ceramic body including a plurality of ceramic layers, the ceramic body having a first main surface and a second main surface and a plurality of side surfaces that connect the first main surface to the second main surface, an internal conductor including nickel, the internal conductor being disposed in the ceramic body and having an exposed portion exposed at least one of the side surfaces, and an external terminal electrode disposed on at least one of the side surfaces of the ceramic body, the external terminal electrode being electrically connected to the internal conductor. The external terminal electrode includes a first conductive layer including a Sn—Cu—Ni intermetallic compound, the first conductive layer covering the exposed portion of the internal conductor at least one of the side surfaces of the ceramic body.