The effect of Ag nanowires (NWs) on the optical properties of optoelectronic polymer poly[2-methoxy-5-(2-ethylhexyloxy)-1,4-phenylenevinylene] (MEH-PPV) have been systemically investigated. The decoration of Ag NWs with an average diameter of 160 nm leads to improved absorption and photoluminescence (PL) ability due to the coexistence of localized surface plasmons and propagating surface plasmons. Results of steady-state spectra exhibit 180% enhancement of absorption and 190% enhancement at ∼630 nm of PL. Temperature and excitation intensity dependent PL measurements demonstrate that Ag NWs can effectively suppress non-radiative recombination and enhance radiative recombination. Time-resolved PL measurement reveals the interaction between plasmons and interchain species plays a dominant role in the enhanced PL. These results will provide an effective way for further improving the optical properties of optoelectronic devices based on conjugated polymers.