To provide a multilayer electronic component which can have excellent bonding between an internal electrode and an external electrode when using the internal electrode made principally of Ni, Cu or Al to make a low-resistance connection between the both, and a manufacturing method thereof.

The multilayer electronic component 1 has a stack 4 including an element body 2 made principally of ceramics and at least one internal electrode 3 containing Ni, Cu or Al as a metal component and provided in the element body 2, and an external electrode 5 containing Ag and Zn as metal components and connected to the internal electrode 3, part of Zn of the external electrode being interposed between the internal electrode 3 and external electrode 4 at least at part of a bonding part between the internal electrode 3 and external electrode 4.