The Okinawa Trough is characterized by enrichment of Ag in hydrothermal precipitates; however, the distribution of this enrichment remains poorly constrained. This study presents the results of a field-emission scanning electron microscopy and electron-microprobe analysis based mineralogical and geochemical investigation of the spatial distribution of Ag within Ag-rich sulfide samples from the Okinawa Trough. The tetrahedrite, covellite, and galena in these samples contain high concentrations of Ag (average values of 1.60, 0.78, and 0.23 wt%, respectively) and also various Ag sulfosalts. Examination of the Ag budget of these samples indicates that most of the Ag is hosted by tetrahedrite followed by galena. The Ag within tetrahedrite is incorporated by substitution into the Cu site, whereas galena becomes Ag-enriched by the coupled incorporation of monovalent Ag, Tl, and Cu, and trivalent Sb and Bi into Pb lattice sites. Tetrahedrite and galena containing higher concentrations of Sb favor increased Ag substitution. Four sets of Ag host minerals are identified with distinct ore formation temperatures. Tetrahedrite and galena concentrate the majority of Ag at medium temperatures (150–300°C). Other Ag host minerals concentrate only minor or trace amounts of Ag, including massive sphalerite, chalcopyrite, and pyrite at high temperatures (>300°C), colloform pyrite and sphalerite at low temperatures (<150°C), and Ag-sulfosalts at even lower temperatures (<100°C).