The present invention provides a conductive adhesive and a packaging structure that can keep moisture-proof reliability even when a multipurpose base metal electrode is used. A conductive adhesive according to the present invention includes first particles having a standard electrode potential that is equal to or higher than a standard electrode potential of silver, and second particles having a standard electrode potential lower than a standard electrode potential of silver. A metal compound coating having a potential higher than that of metal particles as the first particles can be formed on a surface of an electrode having a potential lower than that of the metal particles.