Provided is a thermally conductive sheet which has excellent flexibility and good thermal conductivity in the thickness direction. This thermally conductive sheet contains a curable resin composition, thermally conductive fibers and thermally conductive particles, and has a compressibility of 40% or more. In addition, the amount of the thermally conductive particles filled therein is 70 vol% or less. This thermally conductive sheet is capable of improving adhesion between various heat sources and heat dissipation members by eliminating the difference in level therebetween, and is thus capable of improving the thermal conductivity in the thickness direction of the sheet. In cases where the thermally conductive sheet is used in a high temperature environment for a long period of time, the adhesion is improved, thereby achieving a decrease in the thermal resistance.