This review addresses the development trends of dielectric ceramics, the key material for Multilayer Ceramic Capacitors (MLCCs), which are essential components in high-performance electronic devices. Traditional MLCCs have employed BaTiO3 (BT)-based dielectrics to achieve high dielectric constant and low resistance. By minimizing oxygen vacancies and suppressing grain growth in BT materials, the temperature and voltage stability of MLCCs have been improved, leading to the development of MLCCs with diverse properties. However, the maximum dielectric constant of approximately 3000 in BT materials poses a limitation in overcoming the trade-off between rated voltage and capacitance density. Therefore, ultra-high permittivity dielectric materials have gained attention to meet the requirements of ultra-high-performance MLCCs, and ongoing research focuses on enhancing the temperature and frequency stability of these materials. This review analyzes the characteristics and limitations of conventional BT materials and explores recent research trends and future potential in developing new MLCCs based on ultra-high dielectric constant materials.