Sonochemical irradiation of iron (II) acetate aqueous solution in presence of silver nanopowder resulted in deposition of magnetite nanoparticles on silver nanocrystals, and imparted them with magnetic properties. The Ag-Fe(3)O(4) nanocomposite is well attracted to a permanent magnet, and demonstrates superparamagnetic behavior typical of nanomaterials in a magnetic field. The characterization of the product by X-ray diffraction (XRD), transmission electron microscopy (TEM), high resolution transmission electron microscopy (HR TEM), energy-dispersive X-ray analysis (EDX), and X-ray photoelectron spectroscopy (XPS) reveal the presence of two phases of the silver and the magnetite, but no chemical interaction between them has been found. The strong anchoring of magnetite to the nanosilver surface was explained as a result of local melting of silver when the magnetite nucleus is thrown at the silver surface by high speed sonochemical microjets.