A conductive paste comprising 88-94% by mass of Ag powder having an average particle size of 3 μm or less and 0.1-3% by mass of Pd powder, the total amount of the Ag powder and the Pd powder being 88.1-95% by mass. A multilayer ceramic substrate obtained by laminating and sintering pluralities of ceramic green sheets, and having conductor patterns and via-conductors inside, the via-conductors being formed in via-holes having diameters of 150 μm or less after sintering, containing Ag crystal particles having a particle size of 25 μm or more, and having a porosity of 10% or less.