Abstract: An electroconductive bonding material contains a thermosetting resin, a low-melting-point metal powder which is melted at a temperature equal to or lower than the thermosetting temperature of the thermosetting resin, a high-melting-point metal powder which is not melted at a temperature equal to or lower than the thermosetting temperature of the thermosetting resin and which reacts with the low-melting-point metal powder to form a reaction product having a high melting point of 300° C. or higher during heat-hardening of the thermosetting resin, and a reducing substance which removes an oxide formed on the surface of the high-melting-point metal powder. The total content of the low-melting-point metal powder and the high-melting-point metal powder is 75% to 88% by weight, and the particle size ratio D1/D2 of the average particle size D1 of the low-melting-point metal powder to the average particle size D2 of the high-melting-point metal powder is 0.5 to 6.0.