The preparation method comprises the following steps that pretreated
copper powder, a dispersing agent and water are mixed to obtain a
copper powder mixed solution, first silver salt, a first complexing agent and water are mixed to obtain a first silver complexing solution, the first silver complexing solution is dropwise added into the
copper powder mixed solution, a replacement reaction is conducted, and the silver-coated copper powder with the compact
coating is obtained. Intermediate-state silver-coated copper powder is obtained; second silver salt,
ammonia water and a second complexing agent are mixed, a second silver complexing solution is obtained, the second silver complexing solution and the
reducing agent solution are dropwise added into the intermediate-state silver-coated copper powder at the same time, an oxidation-reduction reaction is carried out, then
solid-liquid separation and washing are carried out, and silver-coated copper powder is obtained; through
raw material control and step-by-step reaction of first replacement and second reduction, under the condition of low silver content, the uniformity and compactness of a silver layer are improved, the
conductivity /
oxidation resistance of the silver-coated copper powder is guaranteed, and finally the
photoelectric conversion efficiency of the photovoltaic
silver paste is improved.