Silver/gold (Ag/Au) core–shell nanostructures exhibit tunable plasmonic properties and enhanced catalytic performance, enabling applications across sensing, biomedicine, and environmental remediation. This review presents representative synthetic strategies for fabricating Ag/Au bimetallic core–shell nanostructures with three distinct morphologies: nanospheres, nanocubes, and nanowires. For each architecture, we cover the representative synthetic approaches, such as seed-mediated growth, one-pot synthesis, and evaporation deposition methods, along with their corresponding applications. This review provides discussions on the synthesis methods and applications through specific examples, offering researchers guidance for fabricating Ag/Au core–shell nanostructures with tailored morphologies while addressing major challenges in controlling bimetallic formation.