The ability to design and characterize uniform, bimetallic alloy nanoparticles, where the less active metal enhances the activity of the more active metal, would be of broad interest in catalysis. Herein, we demonstrate that simultaneous reduction of Ag and Pd precursors provides uniform, Ag-rich AgPd alloy nanoparticles (similar to 5 nm) with high activities for the oxygen reduction reaction (ORR) in alkaline media. The particles are crystalline and uniformly alloyed, as shown by X-ray diffraction and probe corrected scanning transmission electron microscopy. The ORR mass activity per total metal was 60% higher for the AgPd2 alloy relative to pure Pd. The mass activities were 2.7 and 3.2 times higher for Ag9Pd (340 mA/mg(metal)) and Ag4Pd (598 mA/mg(metal)), respectively, than those expected for a linear combination of mass activities of Ag (60 mA/mg(Ag)) and Pd (799 mA/mg(Pd)) particles, based on rotating disk voltammetry. Moreover, these synergy factors reached 5-fold on a Pd mass basis. For silver-rich alloys (Ag <= 4Pd), the particle surface is shown to contain single Pd atoms surrounded by Ag from cyclic voltammetry and CO stripping measurements. This morphology is favorable for the high activity through a combination of modified electronic structure, as shown by XPS, and ensemble effects, which facilitate the steps of oxygen bond breaking and desorption for the ORR. This concept of tuning the heteroatomic interactions on the surface of small nanoparticles with low concentrations of precious metals for high synergy in catalytic activity may be expected to be applicable to a wide variety of nanoalloys.