A silver-based conductive paste, for printing green boards of a low temp. firing ceramic material comprising a CaO-Al2O3-SiO2-B2O3 glass system and Al2O3, contains a silver-based powder with a specific surface of 0.1-0.5 sq.m./g. and begins scratch formation when the paste, contg. an organic resin and an organic solvent, has a value of 10-30 microns as measured with a slide measuring appts. Also claimed is a multilayer ceramic circuit substrate produced using the above conductive paste. Pref. the organic resin is ethyl cellulose or hydroxyethyl cellulose and the solvent is butyl carbitol or terpineol.