Abstract: A heat conductive circuit board includes an insulating layer provided on a metal substrate, and an electrically conductive metal foil formed on the insulating layer, and the insulating layer is formed by impregnating an alumina paper with organic polymer. The alumina paper is made by subjecting a material containing alumina fiber as the principal components to a paper-making process. The insulating layer has excellent properties of heat transfer not only in the thickness direction but also in the surface direction, and thus, the heat conductive circuit board is excellent in heat dissipation properties.