AbstractReactions of 2‐(1‐hydrazonoethyl)pyridine with silver salts AgX (X = NO3¯ or ClO4¯) proceeded via the hydrolysis of the pyridine ligand and the formation of the dinuclear [AgL1]2(ClO4)2 (1) and [AgL1(NO3)]2 (2) complexes of the azine ligand, 1,2‐bis(1‐(pyridin‐2‐yl)ethylidene)hydrazine (L1). The structures of the obtained complexes were determined by single crystal X‐ray diffraction. The azine ligand (L1) is acting as a bidentate ligand and connects the two Ag‐sites via the pyridine and the azine nitrogen atoms. In complex 1, the Ag(I) ion is tetra‐coordinated, while in complex 2 the Ag(I) ion is penta‐coordinated due to the presence of additional interaction with one of the oxygen atoms of the nitrate ion. As a result, the azine ligand is significantly twisted in complex 2 compared to complex 1. The optimized geometries of three conformers of L1 were calculated using DFT calculations, and their kinetic and thermodynamic stability were analyzed. It was found that a free rotation of L1 is required prior to the chelation of the Ag(I) ion. The packing in complex 1 is controlled by H…H, O…H, and Ag…O interactions, but in complex 2, the O…H and N…H interactions are the most significant. Complex 2 has better antifungal activity against Aspergillus fumigatus and Candida albicans than the antifungal drug Ketoconazole. Also, the nitrato complex 2 has a promising antioxidant activity compared to the perchlorate complex 1. The cytotoxicity against colon carcinoma HCT‐116 cell line is higher for complex 1 (IC50 = 19.72 ± 0.94 μg/ml) than complex 2 (IC50 = 68.31 ± 2.97 μg/ml).