Ag nanoparticles were prepared by the arc plasma method under various conditions. The particle properties, such as size, size distribution, shape, and purity, were investigated. It was revealed that the average size of the Ag nanoparticles decreased with increasing arc current during the application of the arc plasma method. Moreover, the crystallite size measured using X-ray diffraction (XRD) was smaller than the average particle size, regardless of the arc current. Thus, it was concluded that the Ag nanoparticles prepared by this method are polycrystalline particles. No Ag oxides were observed in the nanoparticles by either field emission scanning electron microscopy observations or XRD analysis. Moreover, the solid solution of oxygen in Ag was not detected by XRD or wavelength dispersive X-ray spectrometry analysis.