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A multilayer ceramic electronic component includes : a body part including dielectric layers and internal electrodes disposed to face each other with respective dielectric layers interposed therebetween; and external electrodes disposed on an outer surface of the body part and electrically connected to the internal electrodes. The dielectric layer includes grains including : a semiconductive or conductive grain core region containing a base material represented by ABO3, where A is at least one of Ba, Sr, and Ca, and B is at least one of Ti, Zr, and Hf, and a doping material including a rare earth element; and an insulating grain shell region enclosing the grain core region.