A carbon-coated metal powder having few impurities, a narrower particle size distribution, and sintering properties is particularly suitable as a conductive powder of a conductive paste for forming internal conductors in a ceramic multilayer electronic component obtained by co-firing multilayered ceramic sheets and internal conductor layers; a conductive paste containing the carbon-coated metal powder; a multilayer electronic component using the conductive paste; and a method for manufacturing the carbon-coated metal powder. The carbon-coated metal powder has specific properties in TMA or ESCA measurements. The carbon-coated metal powder can be obtained by melting and vaporizing a metallic raw material in a reaction vessel, conveying the generated metal vapor into a cooling tube and rapidly cooling the metal vapor by endothermically decomposing a carbon source supplied into the cooling tube, and forming a carbon coating film on metal nuclei surfaces in parallel with generation of the metal nuclei.