Adhesive composition and sheet for forming semiconductor wafer-protective film

There is disclosed an adhesive composition containing: (A) 100 parts by mass of a phenoxy resin; (B) 5 to 200 parts by mass of an epoxy resin; (C) 1 to 20 parts by mass of an alkoxysilane-partial hydrolytic condensate which is a partial hydrolytic condensate of alkoxysilane including one kind or two or more kinds of alkoxysilane represented by the following general formulae (1) and (2) Si(OR3)4(1) R1Si(OR3)3(2), wherein the weight average molecular weight is 300 or more and 30,000 or less and an amount of residual alkoxy is 2 wt % or more and 50 wt % or less; (D) a curing catalyst for an epoxy resin; (E) an inorganic filler; and (F) a polar solvent having a boiling point of 80° C. to 180° C. and a surface tension of 20 to 30 dyne/cm at 25° C. There can be a sheet for forming a semiconductor wafer-protective film and an adhesive composition capable of forming a protective film excellent in evenness, cutting characteristics and adhesiveness.