Provided is an anisotropic conductive adhesive in which excellent optical characteristics and heat dissipation characteristics are obtainable. The anisotropic conductive adhesive contains conductive particles each comprising a metal layer having Ag as a primary constituent formed on an outermost surface of a resin particle, solder particles having a smaller average particle diameter than the conductive particles, reflective insulating particles having a smaller average particle diameter than the solder particles and a binder into which the conductive particles solder particles and reflective insulating particles are dispersed. The conductive particles and the reflective insulating particles efficiently reflect light, thereby improving light-extraction efficiency of an LED mounting body. Additionally, inter-terminal solder bonding of the solder particles during compression bonding increases contact area between opposing terminals, thereby enabling achievement of high heat dissipation characteristics.