A multilayer electronic component includes a first capacitor including a first capacitor body and first and second external electrodes disposed on outer surfaces of the first capacitor body; and a second capacitor including a second capacitor body and third and fourth external electrodes disposed on outer surfaces of the second capacitor body and electrically connected to the first capacitor. The first and third external electrodes are connected to each other by a first metal terminal enclosing portions of a lower surface of the first external electrode to an upper surface of the third external electrode, and the second and fourth external electrodes are connected to each other by a second metal terminal enclosing portions of a lower surface of the second external electrode and an upper surface of the fourth external electrode.