The ultrafine Ag powders with relatively high tap density were prepared by a chemical reduction method using AgNO3 as raw material. Hydroquinone and chain triacontanol amine were chosen as reductant and dispersant agent, respectively. The laser fineness gage was used to investigate the grain size distribution and the average diameter of Ag powders. The morphology, grain size and agglomerating state of Ag powders was examined by SEM and TEM. The phase composition of Ag powders was characterized by XRD. The results show that the grain size of Ag powders can be controlled by adjusting the concentration of AgNO3, the ratio of AgNO3 to reductant and dispersant agent dosage. The Ag powder obtained is of face-centered cubic crystal structure with quasi-orbicular morphology. The average tap density of the silver powders is up to 4.0 g/cm3.