Silver/Polypyrrole/Polyvinylalcohol polymer nanocomposite films were prepared by in-situ polymerization of pyrrole with variable loading of silver nanoparticles from 0.5-10%. The conducting films prepared from the nanocomposite solution were flexible, light weight, thermally stable and showed high hydrophobicity/hydrophilicity ratio. X-Ray diffraction measurement showed formation of fcc silver nanoparticles with particle size in the range of about 20-40 nm. UV-visible spectroscopy revealed the characteristic bands of Ag nanoparticles and polypyrrole in the so obtained co-polymer nanocomposites. The SEM studies of the nanocomposite films showed that the filler material was well conjugated in the Polymer matrix. Vector Network Analyser showed Electromagnetic shielding efficiency (EMI) efficiency as high as -35 dB in the X band (8-12GHz).