A laminated chip varistor comprises a varistor body, first and second inner electrodes, a heat conductor, and first and second outer electrodes. The varistor body has first and second outer faces. The first and second inner electrodes are disposed in the varistor body so that at least portions thereof are opposing to each other. The first and second outer electrodes are formed on the first outer face, the first outer electrode being connected to the first inner electrode, and the second outer electrode being connected to the second inner electrode. The heat conductor is formed in the varistor body extending in a direction from the first outer face toward the second outer face with one end face thereof exposed on the first outer face and the other end face thereof exposed on the second outer face.