Provided is a method for producing a silver fine powder covered with an organic substance, which comprises a step of mixing (i) a dispersion of silver particles covered with a protective material X1 that comprises an organic compound having an unsaturated bond and having a molecular weight of from 150 to 1000 in a liquid organic medium A, (ii) a protective material X2 that comprises an organic compound of which the number of the carbon atoms constituting the carbon skeleton is smaller than that of the organic compound to constitute the protective material X1, and (iii) a liquid organic medium B of which the ability to dissolve the protective material X1 therein is higher than that of the liquid organic medium A, thereby promoting the dissolution of the protective material X1 in the liquid organic medium B and the adhesion of the protective material X2 to the surface of the silver particles. Accordingly, the invention provides an industrial, large-scale mass-production system for a silver fine powder covered with a protective material having a low molecular weight, of which the sintering temperature can be greatly lowered.