Ag nanoparticles were synthesized by electron beam irradiation in the transmission electron microscope chamber at room temperature and the growth mechanism was explored in detail. The sizes of the Ag nanoparticles are controlled by the electron beam current density. Two nanoparticle growth stages were identified. The first growth stage was dominated by the discharging effect, while the second stage was controlled by the heating effect. The nanoparticle synthesis method should be applicable to the synthesis of other metallic nanoparticles.