A method of forming an external electrode of an electronic component involving: a paste preparation step, a removal step, an element preparation step, a contact step, and a formation step. A jig with a groove into which an element forming the electronic component can be inserted is prepared. A conductive paste is filled in the groove, and then removed, so as to leave the conductive paste along a first wall surface of the groove and remove the rest. Then, element immediately above the groove is located, and inserted into the groove and moved toward the first wall surface. Finally, the element is moved along the first wall surface and toward the aperture in a state in which the ridgeline of the element is kept in contact with the first wall surface, and moved away from the first wall surface so as to separate the ridgeline from the first wall surface.