Decoration of graphene oxide (GO) sheets with Ag nanoparticles has been demonstrated using a simple sonication technique. By changing the ratio between Ag-decorated-GO and GO, a series of Ag-decorated-GO samples with different Ag loadings were synthesized. These Ag-decorated-GO samples were characterized using transmission electron microscopy (TEM), X-ray diffraction (XRD) spectroscopy, thermal gravimetric analysis (TGA), and differential scanning calorimetric (DSC) techniques. TEM analysis showed that Ag nanoparticles were evenly distributed on GO sheets, and the size analysis of the particles using multiple TEM images indicated that Ag nanoparticles have an average size of 6-7 nm. TEM analysis also showed that Ag nanoparticles migrated from Ag-decorated-GO to later-added GO sheets. In XRD, all the Ag-decorated GO samples showed the characteristic peaks related to GO and face-centered-cubic (fcc) Ag. Thermal analysis showed peaks related to the combustion of graphitic carbon shifted to lower temperatures after GO sheets were decorated with Ag nanoparticles. In addition, further experiments performed using Ag-decorated-GO and multiwalled carbon nanotubes (MWNTs) confirmed that Ag nanoparticles migrated from Ag-decorated-GO to later-added carbon nanotubes without a noticeable coalescence of Ag nanoparticles.