Interest in use of ink-jet printing for pattern-on-demand fabrication of metal interconnects without complicated and wasteful etching process has been on rapid increase. However, ink-jet printing is a wet process and needs an additional thermal treatment such as an annealing process. Since a metal ink is a suspension containing metal nanoparticles and organic capping molecules to prevent aggregation of them, the microstructure of an ink-jet printed metal interconnect 'as dried' can be characterized as a stack of loosely packed nanoparticles. Therefore, during being treated thermally, an inkjet-printed interconnect is likely to evolve a characteristic microstructure, different from that of the conventionally vacuum-deposited metal films. Microstructure characteristics can significantly affect the corresponding electrical and mechanical properties. The characteristics of change in microstructure and electrical resistivity of inkjet-printed silver (Ag) films when annealed isothermally at a temperature between 170 and were analyzed. The change in electrical resistivity was described using the first-order exponential decay kinetics. The corresponding activation energy of 0.44 eV was explained in terms of a thermally-activated mechanism, i.e., migration of point defects such as vacancy-oxygen pairs, rather than microstructure evolution such as grain growth or change in porosity.