We studied the effects of the surrounding liquid environment on the size and optical properties of silver nanoparticles prepared by laser ablation by a pulsed Nd:YAG laser operated at 1064 nm. The silver targets used were kept in acetone, water and ethanol. TEM observations and optical extinction were employed for characterization of particle size, shape and optical properties, respectively. Nano silver in acetone showed a narrow size distribution with a mean size of 5 nm and the colloidal solution was stable. In deionised water a rather narrow size distribution with a mean size of 13 nm was observed and nanoparticles were precipitated slowly after about two weeks. In ethanol, a broadening in size distribution and optical extinction spectra was observed. Silver nanoparticles in ethanol with a mean size of 22 nm were completely precipitated after 48 h. In acetone, deionised water and ethanol, the wavelengths of maximum optical extinction are 399, 405 and 411 nm respectively, which is attributed to increasing the size of the nanoparticles. Growth, aggregation and precipitation mechanisms were related to the dipole moment of the surrounding molecules in order to clarify the difference in size, optical properties and stability of the nanoparticles.