A multilayer circuit board obtained by laminating and bonding a plurality of ceramic substrates, each substrate having holes therein and a conductive circuit pattern on at least one surface thereof, and bonding layers between each ceramic substrate, said bonding layers containing an organic or inorganic adhesive and an inorganic filler and having good electrical insulating properties, good thermal conductivity and a larger coefficient of thermal expansion than that of the ceramic substrate shows good thermal conductivity, wiring accuracy and productivity.