The effect of combined addition of Ag and Cu on the precipitation behavior for an Al-Mg-Si alloy was systematically investigated by atomic resolution high-angle annular dark-field scanning transmission electron microscopy (HAADF-STEM) and three-dimensional atom probe (3DAP) analysis. At the early aging stage, Ag and Cu atoms participate in the clustering process and accelerate the transformation of clusters to GP zones and β″ phases. In the peak aging stage, Ag atoms preferentially segregate at the β″/α-Al interfaces, while Cu atoms enter into the interior of the β″ phase and form a symmetry substructure, Cu sub-unit clusters. With prolonged aging, Ag atoms gradually incorporate in the β″ phase and form Ag sub-unit clusters. The incorporated Ag and Cu atoms can promote the formation of β′Ag, disordered QP1 and QP2 phases during the over aging stage. Almost all of these precipitates have a composite structure with various unit cells (β′, β′Ag, Q′ and C) or substructures (LDC, Cu sub-unit clusters, Ag sub-unit clusters), and Ag segregation is found in the interfaces of these precipitates. For the lath-like QP2 phase, Cu and Ag atoms segregate at the coherent and semi-coherent QP2/α-Al interfaces, respectively, which can reduce their strain energy and interfacial energy. These findings provide new insights in understanding the precipitate evolution of the Al-Mg-Si-Ag-Cu alloy, which is a potential alloy for automobile applications.