The present invention provides an electrically conductive paste for connecting thermoelectric materials, the paste comprising a specific powdery oxide and at least one powdery electrically conductive metal selected from the group consisting of gold, silver, platinum, and alloys containing at least one of these metals. By connecting a thermoelectric material to an electrically conductive substrate with the electrically conductive paste of the invention, a suitable electroconductivity is imparted to the connecting portion of the thermoelectric element. Further, the thermal expansion coefficient of the connecting portion can be made close to that of the thermoelectric material. Therefore, even when high-temperature power generation is repeated, separation at the connecting portion is prevented and a favorable thermoelectric performance can be maintained.