The present invention provides a protection element which exhibits excellent fast fusing properties by efficiently transferring heat from a heating element to a fusible conductor. A fuse element 1 isprovided with: an insulating substrate 2; a first electrode 3 and a second electrode 4, which are provided on the insulating substrate 2; a heating element 5 which is provided on the insulating substrate 2; a first heating element electrode 6 and a second heating element electrode 7, which are connected to the heating element 5; a third electrode 8 which is connected to the first heating element electrode 6; a heating element lead-out electrode 9 which is connected to the second heating element electrode 7; and a fusible conductor 10 which connects the first electrode 3 and the second electrode 4 to each other via the heating element lead-out electrode 9. In this connection, the second heating element electrode 7 and the heating element lead-out electrode 9 are connected to each other at least in a position where the fusible conductor 10 is superposed thereon.