This article reviews the increasing need for innovative transparent and conductive electrodes (TCEs) for modern optoelectronics, flexible electronics, sensors, and biomedical devices as alternatives to brittle and scarce conventional indium tin oxide (ITO). Among the various TCE materials explored, silver nanowires (AgNWs) have emerged as a promising candidate to replace ITO, thanks to their remarkable properties. However, AgNW‐based TCEs can present limitations such as thermal instability, high contact resistance, increased surface roughness, and inadequate adhesion to substrates. Incorporating secondary conductive materials with AgNWs has proven effective in mitigating these challenges, leading to high‐performance composite electrodes. This review offers a comprehensive overview of the latest advancements in AgNW‐based composite TCEs for applications in optoelectronics, flexible electronics, sensors, and biomedical devices. It covers the materials and methodologies employed to construct high‐performance composite electrodes and present a comparative analysis of various composite TCEs in terms of their optical, electrical, and mechanical properties and performance in different electronic devices. The article also discusses recent breakthroughs in enhancing TCE stability, adhesion, and contact resistance reduction by employing additional materials such as graphene, conductive polymers, and metal oxide nanoparticles. The review addresses the challenges in the field of composite TCEs, proposes potential solutions, and highlights opportunities.