The adhesive film of the present invention is adapted to be used for bonding a semiconductor element and a substrate together or bonding semiconductor elements together. The adhesive film is formed of a resin composition containing an epoxy resin, an acrylic resin, and an acrylic oligomer having a weight average molecular weight of 6,000 or less. The resin composition is characterized in that in the case where an amount of the acrylic resin contained in the resin composition is defined as Wa and an amount of the acrylic oligomer contained therein is defined as Wb, a ratio of Wa/Wb is in the range of 0.5 to 4. Further, the semiconductor device of the present invention is characterized in that a semiconductor element and a substrate or semiconductor elements are bonded together using the above mentioned adhesive film.