It is an object of the present invention to provide a coated conductive powder particularly useful as the conductive filler of an anisotropic conductive adhesive used for electrically interconnecting circuit boards, circuit parts, and the like, and a conductive adhesive that can provide connection with high electrical reliability even for the connection of the electrodes of miniaturized electronic parts, such as IC chips, and circuit boards. The coated conductive powder of the present invention is a coated conductive powder obtained by coating the surfaces of conductive particles with an insulating substance, wherein the insulating substance is a powdery, thermally latent curing agent. Also, in the present invention, the particle surfaces of the coated conductive powder are further coated with insulating inorganic fine particles.