Mercaptoethane sulfonate protected, water-soluble gold and silver nanoparticles (Au-MES and Ag-MES) are synthesized by one-phase method and characterized by TEM, TGA and XPS techniques, UV-vis and FTIR spectra. Both Au-MES and Ag-MES nanoparticles are soluble in the water up to 2.0 mg/ml and the stability of AU-MES is much better than that of Ag-MES. When dissolved in the water. they behave like a polyanion and can be used to build multilayer films with polyaniline (PANI) by way of layer-by-layer. A new approach is presented to fabricate the Multilayer films of Au-MES/PANI and Ag-MES/PAN]. The assembly mechanism of these multilayer films is also discussed. We anticipate highly conducting PANI films can be obtained by doping with these nanoparticles. (c) 2005 Elsevier Inc. All rights reserved.