The present invention provides a highly thermal conductive compound which has a high thermal conductivity, has a high consistency and a good coating workableness, and is excellent in thermal stability at a high temperature. A highly thermal conductive compound containing (A) 85 to 97% by mass of an inorganic powder filler, (B) 2 to 15% by mass of a base oil, and (C) 0.001 to 10% by mass of a compound represented by Y—(—R2—COO—)n—R1—X (wherein R1 and R2 each is a bivalent hydrocarbon group having a linear or branched chain having 1 to 36 carbon atoms, n is 1 to 15, X and Y each is at least one substituent selected from the group consisting of a carboxyl group and a hydroxyl group or a hydrogen atom, and at least one of X and Y is a carboxyl group or a hydroxyl group.