In a semiconductor module, a first heat sink is disposed on a rear surface of a first semiconductor chip constituting an upper arm, and a second heat sink is disposed on a front surface of the first semiconductor chip through a first terminal. A third heat sink is disposed on a rear surface of a second semiconductor chip constituting a lower arm, and a fourth heat sink is disposed on a front surface of the second semiconductor chip through a second terminal. A connecting part for connecting between the upper arm and the lower arm is integral with the first terminal, and is connected to the third heat sink while being inclined relative to the first terminal.