Silver nanoparticles (Ag NPs) enhanced perylene probe excimer emission is reported for the first time. It was observed that strong interactions between the perylene probe and the Ag NPs induced co-aggregation. As a result, a new in situ generated plasmonic absportion band of the Ag NPs at longer wavelength emerged. The monomer emission of the perylene probe was efficiently quenched, and dramatically enhanced probe excimer emission was observed. A remarkable emission enhancement of over 1000 fold was obtained compared to anionic polymers and other nanoparticles. The excimer emission intensity could be finely modulated by the size of the Ag NPs and the functionalities of the perylene probe. The observed Ag NPs enhanced perylene probe excimer emission shows good potential for the development of novel sensing techniques for various bioanalytical applications.