The present invention provides technology for an anisotropic conductive adhesive which uses conductive particles that use a silver-based metal as a conducting layer, and has high light reflectance and excellent migration resistance. This anisotropic conductive adhesive (1) contains light-reflective conductive particles (3) in an insulating adhesive (2). Each light-reflective conductive particle (3) has: a light-reflective metal layer (31) comprising a metal with a reflectance of at least 60% at a peak wavelength of 460 nm formed on the surface of a resin particle (30), which constitutes the core; and a covering layer comprising a silver alloy formed on the surface of the light-reflective metal layer (31). The light-reflective metal layer is preferably formed according to a plating method.