To provide an insulating and thermally conductive resin composition from which a molded article having a high insulating properties and a high thermal conductivity can be produced and which is excellent in moldability, a molded article, and a method of producing the resin composition. The insulating and thermally conductive resin composition of the invention includes at least 30% by volume or more of a thermoplastic resin, 10 to 40% by volume of metallic aluminum type filler, and 5 to 25% by volume of a flame retardant. Particularly, addition of 1 to 10% by volume of a metal powder having a melting point of 500° C. or higher and 1 to 10% by volume of a low melting point alloy having a melting point of 500° C. or lower can provide more isotropic thermal conduction.