To provide a semiconductor module capable of having a smoothing capacitor built-in the module, miniaturizing the module, and reducing a cost, and to provide a power converting device using the same.

The semiconductor module including a module case 7, a base 1 provided in the case 7, a ceramic substrate 2 that is placed on the base 1 and has a wiring member on its surface, a power semiconductor element 3 that is placed on the substrate 2 and is electrically connected to the wiring member, a lead frame 6 electrically connected to the element 3, an output side conductive member electrically connected to the element 3, and the capacitor 64 electrically connected to the frame 6, wherein the capacitor 64 can be configured by the one having a plurality of capacitor terminals 11 that electrically connect a capacitor element 10 fixed to the case 7, the element 10, and the frame 6.