Silk possesses excellent mechanical properties and biocompatibility due to its unique protein sequences and hierarchical structures. Thus, it has been widely used as a biomaterial in a broad spectrum of biomedical applications. In this study, an in-depth investigation of glycerol-plasticized silk films was carried out to understand the processing-structure-properties relationships. A series of glycerol-plasticized silk films with glycerol contents in the range of 0 to 30% (w/w) were prepared. The molecular structures and organizations of silk proteins and the interactions between glycerol and proteins were studied using FTIR, XRD, and DSC. At a low glycerol content (<12%), DSC revealed that the glass transition temperature and thermally induced crystallization temperature decreased as the glycerol content increased, implying that glycerol mainly interacts with silk proteins through hydrogen bonding. As the glycerol content further increased, the chain mobility of the silk proteins was promoted, leading to the formation of β-sheet structures, water insolubility, and increased crystallinity. In addition, the stretchability and toughness of the films were significantly enhanced. The role of glycerol as a plasticizer in regulating the silk protein structures and determining the properties of the films was thoroughly discussed.