A Long Text Area in Salesforce (field type “Text Area (Long)”) holds up to 131,072 characters of plain text on multiple lines, with a default of 32,768 when you create it. Each object can use 1,638,400 characters in total across all its long and rich text area fields.
I confirmed every limit on this page in a Salesforce Developer Edition org by entering out-of-range values in the field setup screen. Below you’ll find the limits, how Long Text Area compares with Text, Text Area and Rich Text Area, how to create one, and the restrictions that matter in reports, formulas and SOQL.