In this study, we report the electrical and optical properties of ITO/Ag/ITO multilayer films deposited on glass substrate by in-line RF sputtering of ITO and DC sputtering of Ag at room temperature. The physical properties of the ITO/Ag/ITO multilayer films changed significantly with the thickness of Ag interlayer. The ITO (43 nm)/Ag (16.1 nm)/ITO (43 nm) multilayer films exhibited both good transmittance (79.4% at 550 nm) and low sheet resistance (8.9 Omega/sq.) due to the combined effects of top ITO layer acting as anti-reflection layer and Ag thin interlayer acting as conductive layer. Furthermore, the maximum figure of merit value of the ITO/Ag/ITO multilayer films was obtained at a Ag thickness of 16.1 nm.