In the present work, an attempt has been made to coat the magnetic nanoparticles of iron oxide with the noble metal silver via a solvothermal approach. The synthesized particles are characterized by X-ray diffraction (XRD), Transmission Electron Microscopy (TEM) and Scanning Electron Microscopy (SEM). The optical and magnetic properties are investigated by UV-Vis-Spectrometer and Vibrating Sample Magnetometer (VSM). In the X-ray diffractogram, the absence of the peaks of iron and the presence of only the prominent peaks of silver confirmed the formation of iron oxide core/silver shell nanoparticles. The SEM image clearly indicates the coating of iron with silver. The Energy Dispersive X-ray Analyzer (EDX) spectrum evidences the high purity of the samples. The TEM images confirm the nanoparticles formation and the Fe3O4/Ag core/shell structure. The UV spectrum and the magnetization curves indicate that the resulting samples have a modified optical and magnetic properties compared to the parent material.