A novel dual-face hot-roll inlaying technique was developed to fabricate a Ag/Cu through-layered composite for use in melt elements for fuse production, including two stages of grooving in a Cu strip followed by separate inlaying of Ag strips at the same positions on the opposite surfaces. The microstructure was characterized using field emission scanning electron microscopy (FE-SEM), electron probe microanalysis (EPMA), X-ray diffraction (XRD), and selective area electron diffraction (SAED). The Ag/Cu interfaces are flat and well bonded, with an elemental interdiffusion layer of less than 2 μm. The same textural components—copper, brass, and S-type components—were identified in both the Ag and Cu layers. However, no well-matched crystal orientation relationship between Ag and Cu was detected at the interface. Moreover, tensile properties and electrical resistance were measured to evaluate the bonding strength and conductivity of the interface. It was found that Ag/Cu bonding strength surpassed the tensile strength of Ag, i.e., 260 MPa. While the total elongation is less than 1%, the Ag layer exhibits excellent plasticity, with a section shrinkage over 90%. Compared with the calculated resistivity with a series circuit model, the tested value of the composite sample, including six Ag/Cu interfaces, increased by only 6.6%, indicating good conductivity of the Ag/Cu interface. Therefore, the obtained composite is a promising candidate for the fabrication of melt elements.