It is an object of this invention to provide a bonding material capable of realizing bonding by metallic bonding at a bonding interface at a lower temperature compared to a bonding material using a metal particle having an average particle diameter of not more than 100 nm and a bonding method. There is provided a bonding material including a metal particle precursor being at least one selected from the group consisting of a particle of a metal oxide, a particle of a metal carbonate, and a particle of a metal carboxylate and having an average particle diameter of 1 nm to 50 μm and a reducing agent composed of an organic substance, wherein the content of the metal particle precursor is more than 50 parts by mass and not more than 99 parts by mass per 100 parts by mass of the bonding material.