Transparent conductive oxides (TCOs) have been widely used as transparent electrodes for opto-electronic devices, such as solar cells, flat-panel displays, and light-emitting diodes, because of their unique characteristics of high optical transmittance and low electrical resistivity. Among various TCO materials, zinc oxide based films have recently received much attention because they have advantages over commonly used indium and tin-based oxide films. Most TCO films, however, exhibit valleys of transmittance in the wavelength range of 550-700 nm, lowering the average transmittance in the visible region and decreasing short-circuit current (Isc) of solar cells. A TCO/Ag/TCO multi-layer structure has emerged as an attractive alternative because it provides optical characteristics without the valley of transmittance compared with a 100-nm-thick single-layer TCO. In this article, we report the electrical, optical and surface properties of TCO/Ag/TCO. These multi-layers were deposited at room temperature with various Ag film thicknesses from 5 to 15 nm while the thickness of TCO thin film was fixed at 40 nm. The TCO/Ag/TCO multi-layer with a 10-nm-thick Ag film showed optimum transmittance in the visible (400-800 nm) wavelength region. These multi-layer structures have advantages over TCO layers of the same thickness.