Precise control of elemental configurations within multimetallic nanoparticles could enable access to functional nanomaterials with significant performance benefits. Here, we present a one-pot synthesis of supported Ag@PdAg core-shell catalyst with an ordered PdAg alloy shell and an Ag core. Both the relative reduction potential and ratio of metal precursors are essential for this synthesis strategy. The distinguished properties of Ag@PdAg, particularly the electronic structure, indicates the existence of electron modification not only between Pd and Ag on PdAg shell, but between Ag core and alloy shell. The Ag@PdAg catalyst displays 97% ethene yield in the partial hydrogenation of acetylene, which is 2.0 and 8.1 times that of over PdAg alloy and pure Pd catalysts, and this is the most selective catalyst reported to data under industrial evaluation conditions. Moreover, this core-shell structure exhibits preferable stability with comparison to PdAg alloy catalyst. The facile synthesis of core-shell architecture with alloy shell structure provides a new platform for efficient catalytic transfer of chemical resource. (C) 2018 Elsevier Inc. All rights reserved.