Abstract: This invention provides a conductor paste having a low resistivity (about 10 .mu..OMEGA..cm or below) and capable of retaining a film thickness of 25 to 35 .mu.m after baking by composing the paste from 85 to 96 wt. % of a metal powder having a resistivity of 10 .mu..OMEGA..cm or below and 4 to 15 wt. % of an organic vehicle containing 5 to 13 wt. % of a binder. The invention also provides a process for producing the above-described conductor paste, in which 85 to 96 wt. % of a metal powder having a resistivity of 10 .mu..OMEGA..cm or below and 4 to 15 wt. % of an organic vehicle containing 5 to 13 wt. % of a binder are forcibly passed between the barrel-shaped rolls in a kneader and thereby kneaded to form a paste, wherein the roll interval in the kneader is adjusted so that the smallest distance between the adjoining barrel-shaped rolls becomes 5 .mu.m or less and the shear rate therebetween is set at 1,000 s.sup.-1 or more.