Silver-coated carbon fibers successfully fabricated by a modified electroless plating process were characterized by scanning electron microscope (SEM) and X-ray diffraction analysis (XRD). The electroless plating process was modified by replacing the conventional pretreatment and sensitization steps by only using surface hydroxylation step. And the activation and electroless plating steps were merged into one step. The silver layer was successfully coated onto the surface of carbon fibers under the given coating conditions. The effects of AgNO3 solution concentration and reaction temperature on the conductivity of silver-coated carbon fibers were studied in detail. The results indicated that the optimum AgNO3 solution concentration was 0.05 mol/L, and the optimum range of reaction temperature was from 45°C to 65°C.