A composite material includes: a heat dissipation sheet; a heat insulation material that is placed on one surface of the heat dissipation sheet; and a support layer that is placed on at least one of the other surface of the heat dissipation sheet and the other surface of the heat insulation material, wherein silica aerogel is included between fibers in an inner region of the heat insulation material, an outer peripheral region of the heat insulation material includes the fibers, and the heat dissipation sheet and the heat insulation material are fixed onto each other through the fibers. Furthermore, provided is an electronic apparatus, including a heat generating component; and the above composite material, wherein the composite material is placed between the housing and the heat generating component.