Provided are: a moisture-proof insulating material having superior long-term insulating reliability and adhesiveness to polyimides and glass substrates, and has a solid content concentration that can secure a thickness that realizes sufficient moisture-proof performance after application and drying in a viscosity region that can be easily coated by means of a dispenser; and an electronic component that has been insulation-processed by means of the moisture-proof insulating material. The moisture-proof insulating material contains a styrene-based thermoplastic elastomer, a tackifying agent, and a solvent, and is characterized by the solvent containing an aliphatic hydrocarbon solvent (for example, methylcyclohexane or cyclohexane) having a boiling point that is at least 80° C. and less than 110° C. The solvent preferably further contains an aliphatic hydrocarbon solvent (for example, ethylcyclohexane or dimethylcyclohexane) having a boiling point that is at least 110° C. and less than 140° C.