The properties of the silver paste have great influence on the photovoltaic conversion efficiency (Eff) of monocrystalline silicon (Si) solar cells. The organic medium is a very important part of silver paste. In this paper, two main performance parameters of organic medium (viscosity and thixotropic index) are systematically studied. When the thixotropic index of the organic medium is more than 5.50 and the viscosity is between 15 pa·s and 30 pa·s, the silver paste has good thixotropy and appropriate printability. The experimental results indicate that organic medium has appropriate viscosity (20 pa·s) and the highest thixotropic index (9.35) when its composition is as follows: solvents 80.00 wt. %, thickener 3.00 wt. %, thixotropic agents 8.00 wt. %, surfactant 3.00 wt. %, and coupling agent 6.00 wt. %. The silver paste shows appropriate viscosity (270–370 pa·s), high thixotropic index (6.50), and good printability when the percentage of organic medium is about 12.00 wt. %. Using this silver paste, the front electrode grid of Si solar cells has high ratio of height to width as well as fine edge definition. Meanwhile, the Eff of monocrystalline Si solar cells reach 18.29%.