Taking advantage of the high impermeability property of graphene and the sharp surface plasmon resonance (SPR) curve of silver, we numerically demonstrate that SPR imaging biosensors with a graphene-on-silver substrate can be used to achieve the dramatically high sensitivity as well as to prevent silver oxidation. Results of our numerical study show that a silver substrate with a few graphene layers can significantly increase the imaging sensitivity, compared to the conventional gold-film-based SPR imaging biosensor. In particular, single layered graphene deposited on the 60-nm thick silver film amplifies the SPR imaging signal more than three times. Therefore, the proposed SPR substrate could potentially open a new possibility of SPR imaging detection for sensitive and high-throughput assessment of multiple biomolecular interactions.