Carbon-supported silver in varying percentage viz. 40%, 60%, and 80% (Ag/C) is prepared by sodium citrate protecting method. The structure, dispersion, electrochemical characterization, and surface area and oxygen reduction reaction pathway of Ag/C are determined by XRD, TEM, CV, and LSV, respectively. The catalyst is evaluated for its electrocatalytic activity towards oxygen reduction reaction (ORR) in alkaline polymer electrolyte membrane fuel cells (APEMFCs); 60% Ag/C gives higher performance than 40%, and 80% Ag/C. Metal loading on cathode is optimized through the cell polarization studies using 60% Ag/C. A peak power density of 10 mW/cm2 is obtained for APEMFC single cell comprising 60% Ag/C and 38% Pt/C as cathode and anode catalysts, respectively.