A facile, green and efficient approach was applied to synthesize multi‐walled carbon nanotubes (MWNTs) decorated with silver nanoparticles (MWNT‐Ag) for further potential application. Oxidized MWNTs were decorated with silver nanoparticles (Ag NPs) via a method combining ultraviolet irradiation‐induced reduction and conventional silver mirror reaction without any reducing agent. The obtained product was characterized using various methods. X‐ray diffraction proved that the Ag NPs were synthesized successfully. Moreover, Ag NPs with a diameter of 80 nm, attached onto MWNTs, could be clearly observed in field emission scanning electron microscopy images, which also confirmed Ag NPs. Energy‐dispersive spectroscopy and transmission electron microscopy also indicated the presence of Ag NPs. Furthermore, thermogravimetric analysis was used to measure the content of Ag NPs in MWNT‐Ag, the result indicating that the weight content of Ag NPs was up to 31.88%. UV–visible absorption spectroscopy was adopted to evaluate the dispersion property of MWNT‐Ag. The result illustrated that MWNT‐Ag had a good dispersibility and stability in water. Characterization was also carried out through Fourier transform infrared spectroscopy, Raman spectroscopy and dynamic light scattering analysis.