The composite material consisted of graphene (GN) and silver nanoparticles (AgNPs) has been essential topic in science and industry due to its unique thermal, electrical and antibacterial proper- ties. However, there are scarcity studies based on their thermal properties of nanofluids. Therefore, GN-AgNPs composite material was synthesized using facile and environment friendly method and further nanofluids were prepared by ultrasonication in this study. The morphological and structural investigations were carried out using scanning electron microscope (SEM), transmission electron microscope (TEM), X-ray diffractometer (XRD) as well as ultra violet (UV)-visible spectroscopy. Furthermore, thermal conductivity measurements were performed for as-prepared nanofluids. As a result of thermal conductivity study, GN-AgNPs composite material was considerably enhanced the thermal conductivity of base fluid (water) by to 6.59% for the nanofluid (0.2 wt% GN and 0.4 wt% AgNPs).