A multilayer electronic component includes a capacitor body, first and second external electrodes, first and second land portions, and first and second insulating portions. The first and second external electrodes are disposed and spaced apart from each other on a mounting surface of the capacitor body. The first and second land portions include a conductive material and are disposed on the first and second external electrodes, respectively. The first and second insulating portions are disposed between the first and second land portions on the mounting surface of the capacitor body to be spaced apart from each other and each have one end connected to a respective one of the first and second land portions. A board having a multilayer electronic component includes a circuit board having first and second electrode pads disposed on one surface thereof, and the multilayer electronic component mounted thereon.