A multilayer electronic component includes a capacitor body, a plurality of external electrodes disposed on a mounting surface of the capacitor body to be spaced apart from each other, and a connection terminal including land portions formed of insulators. The land portions have conductor layers formed on surfaces thereof, and are disposed on respective external electrodes. A bridge portion is disposed between land portions adjacent to each other. Cut portions are formed in the land portions. The multilayer electronic component can optionally be mounted on a circuit board having a plurality of electrode pads such that each land portion is mounted to a respective electrode pad of the circuit board.