A heat-conductive sheet includes a laminated sheet and first and insulating sheets bonded to first and second main surfaces of the laminated sheet. The laminated sheet includes graphite sheets and one or more adhesive layers disposed alternately on the graphite sheets to bonds the graphite sheets to each other. The first insulating sheet is bonded to the second insulating sheet outside an outer circumferential edge of the laminated sheet to seal the laminated sheet between the first and second insulating sheets. The laminated sheet includes an outer circumferential portion connected to the outer circumferential edge and an inner portion apart from the outer circumferential edge. The outer circumferential portion of the laminated sheet has a thickness smaller than a thickness of the inner portion. The heat-conductive sheet has high reliability of sealing the insulating sheet.