A semiconductor module includes a high-side switching device and a low-side switching device that respectively form an upper arm and a lower arm, freewheeling diodes that are respectively connected to the switching devices in anti-parallel, and a high-side driver circuit and a low-side driver circuit that respectively switch the high-side switching device and the low-side switching device ON and OFF. In the upper arm, an anode electrode of the freewheeling diode and a reference voltage electrode of the high-side driver circuit are directly connected via a first wiring, and the anode electrode of the freewheeling diode is connected to a reference voltage electrode of the high-side switching device via a second wiring having an inductance.