An adhesive composition, which exhibits excellent adhesion to base films made from polyimide resins and the like or copper foils, as well as superior electrical properties, and a laminate having an adhesive layer, which is low in warpage when the adhesive layer is in the B stage, and which is excellent in storage stability of the laminate, are provided. The adhesive composition includes a modified polyolefin-based resin and an epoxy resin, in which the modified polyolefin-based resin is a resin resulting from graft-modification of an unmodified olefin resin with a modifying agent containing an α,β-unsaturated carboxylic acid or derivative thereof, wherein the content of the modified polyolefin-based resin is 50 parts by mass or more relative to 100 parts by mass of the solid content of the adhesive composition; the content of the epoxy resin is from 1 to 20 parts by mass relative to 100 parts by mass of the modified polyolefin-based resin; and the dielectric constant of a cured body of the adhesive is less than 2.5 as measured at a frequency of 1 GHz.