Yeast Saccharomyces cerevisiae may be regarded as a cost-effective and environmentally friendly biosorbent for complex effluent treatment. The effect of pH, contact time, temperature, and silver concentration on metal removal from silver-containing synthetic effluents using Saccharomyces cerevisiae was examined. The biosorbent before and after biosorption process was analysed using Fourier-transform infrared spectroscopy, scanning electron microscopy, and neutron activation analysis. Maximum removal of silver ions, which constituted 94–99%, was attained at the pH 3.0, contact time 60 min, and temperature 20 °C. High removal of copper, zinc, and nickel ions (63–100%) was obtained at pH 3.0–6.0. The equilibrium results were described using Langmuir and Freundlich isotherm, while pseudo-first-order and pseudo-second-order models were applied to explain the kinetics of the biosorption. The Langmuir isotherm model and the pseudo-second-order model fitted better experimental data with maximum adsorption capacity in the range of 43.6–108 mg/g. The negative Gibbs energy values pointed at the feasibility and spontaneous character of the biosorption process. The possible mechanisms of metal ions removal were discussed. Saccharomyces cerevisiae have all necessary characteristics to be applied to the development of the technology of silver-containing effluents treatment.