A power semiconductor module and a method of manufacture thereof includes a lead frame carrying lead having inner and outer lead portions. The outer lead portions, which are connected by soldering to semiconductor chips simultaneously, eliminate the need for using bonding wires. Since no bonding wire is used for connecting the leads and the semiconductor chips, a sufficient current capacity is obtained. The bonding between an insulating circuit board and the semiconductor chips and the bonding between the semiconductor chips and the leads can be made simultaneously in a single step of reflow-soldering. As a result, the mounting time can be shortened and the power semiconductor module can be manufactured more efficiently.