Nanoscale chemical transformations based on partial cation exchange reactions are known as a componentincreased, shape-maintaining means for the design and tunable preparation of ternary or multinary metal chalcogenide compounds. Herein, we present a new material couple, Bi 2 S 3 −AgBiS 2 , to detail the binary−ternary chemical transformation via partial cation exchange and its reaction thermodynamics and kinetics. The preformed Bi 2 S 3 nanorods (NRs) act as both the reactant and the parent template, within which the partial exchange of Bi 3+ with Ag + cations proceeds under a silver-rich, diffusion-controlled regime, leading to the formation of energetically favorable AgBiS 2 . The NR shape preservation involving sulfur sublattice rearrangement is due to the proper diameter thickness (∼12 nm) of parent Bi 2 S 3 NRs and the rapid establishment of equilibrium-phase AgBiS 2 , as supported by X-ray diffraction measurements and the pseudobinary Ag 2 S−Bi 2 S 3 phase diagram. Interestingly, the finding of a AgBiS 2 −Bi 2 S 3 −AgBiS 2 intermediate with axially segmented heterostructures reveals the real NR-to-NR conversion trajectory and the shape-induced exchange reaction anisotropy at the ends and middle of Bi 2 S 3 NRs. Additionally, the resultant AgBiS 2 NRs with a measured band gap of ∼0.86 eV exhibit potential for photoelectronic applications because of their impressive visible−near-infrared absorption and photoconductivity.