The present invention relates to a method for manufacturing a circuit board including the steps of preparing a substrate containing silicon at least at a surface, applying a paste containing aluminum particles onto the substrate, forming a conductor layer on the substrate by firing the substrate to which the paste has been applied, forming a resist film having a specific pattern on the conductor layer, and removing with an etchant, the conductor layer in a portion where the resist film has not been formed, the etchant containing fluoride ions and metal ions of a metal M of which standard electrode potential is higher in value than a standard electrode potential of aluminum, and to a circuit board which can be manufactured with such a method.