The invention provides an anisotropic conductive adhesive film and an electronic device and aims to solve the problem that when a thermocuring conductive adhesive is adopted to carry out package and connection, a microfine wire is easy to have fault due to deformation of a microelectronic device, which is caused by the high temperature. The anisotropic conductive adhesive film comprises a base film and a microcapsule structure; the microcapsule structure is arranged on the base film; the microcapsule structure comprises metal conductive particles, high molecular polymer which coats the metal conducting particles and can be cured at normal temperature, and a microcapsule wall which coats the high molecular polymer; and adhesion colloid is attached to the outer surface of the microcapsule wall. The metal conductive particles and the high molecular polymer capable of being cured at normal temperature are used as core materials and the microcapsule structure is used as a wall material, and thus, when the anisotropic conductive adhesive film is in use, the microcapsule structure is damaged in a pressurizing manner, the conductive particles and the high molecular polymer capable of being cured at normal temperature in the microcapsule structure are leaked out and the high molecular polymer capable of being cured at normal temperature is cured after being leaked out, so that electrical conduction connection of the anisotropic conductive adhesive film on the microelectronic device at normal temperature is realized.