A multilayer anisotropic conductive adhesive a plurality of adhesive layers that are laminated, each of which contains an insulating resin and a hardening agent. The conductive particles are contained either in a first plurality of adhesive layers or in a second plurality of adhesive layers, and at least the top or bottom adhesive layer has the DSC (differential scanning calorimetry) exothermic peak temperature of 130° C. or more and 180° C. or less. Also, a connection structure is constructed in which a first electronic component having an electrode and an insulating film on the surface thereof and a second electronic component that has an electrode on the surface thereof are electrically connected through the multilayer anisotropic conductive adhesive.