The reversible charging and discharging effects associated with photoexcitation of a TiO2 shell in a Ag@TiO2 composite are described. The photoinduced charge separation in the TiO2 shell is followed by electron injection into the silver core. Interestingly, the charging of the silver core is associated with the shift in the surface plasmon band from 460 to 430 nm. The stored electrons are discharged upon exposure of the charged Ag@TiO2 composite to an electron acceptor. As the electrons from the silver core are discharged, the original surface plasmon absorption of the Ag core is restored.