A one step chemical reduction process was used for the preparation of hydrophilic silver nanoparticles (AgNP) using silver nitrate, sodiumborohydride and polyvinylpyrolidone as stabilizer. In the case of hydrophobic silver nanoparticles reduced silver ions were stabilized with cetyl trimethylammonium bromide (CTAB). The resultant nano particles were characterized by absoption spectra and their interactions with cationic cobalt (QCoPz) and neutral magnesium (MgPz) porphyrazines in water and in organic medium were investigated by using UV-vis spectroscopy and zeta potential techniques. It is confirmed that both metalloporphyrazine molecules interact with silver nanoparticles in an effective manner. The possible arrangement of the porphyrazines on the surfaces of the hydrophilic and hydrophobic AgNPs has been also discussed according to obtained spectroscopic results. These well-characterized novel AgNP-metalloporphyrazine composites are expected to be useful in optical and catalytic applications.