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A dielectric composition includes one of BaTiO3, (Ba, Ca) (Ti, Ca)O3, (Ba, Ca) (Ti, Zr)O3, Ba(Ti, Zr)O3 and (Ba, Ca) (Ti, Sn)O3, as a main component, a first subcomponent including a rare earth element, and a second subcomponent including at least one of a variable valence acceptor element and a fixed valence acceptor element. When a sum of contents of the rare earth element is defined as DT and a sum of contents of the variable valence acceptor element and the fixed valence acceptor element is defined as AT, (DT/AT)/(Ba+Ca) satisfies more than 0.5 and less than 6.0. In addition, a multilayer electronic component including the dielectric composition is provided.