Abstract: A semiconductor device comprises a mounting substrate, a semiconductor element provided above said mounting substrate, a package substrate provided above said mounting substrate with said semiconductor element therebetween and electrically connected to said semiconductor element via a primary connecting bump, a liquid cooling module cooling said semiconductor element by a liquid refrigerant, in which a heat receiving section of the liquid cooling module is disposed between said semiconductor element and said mounting substrate, and a plurality of secondary connecting bumps provided between said package substrate and said mounting substrate.