Highly transparent, low resistance, and cost-efficient Nb-doped TiO2 (NTO)/Ag/NTO multilayer electrodes were fabricated using tilted dual-target sputtering at room temperature without in situ or postannealing processing. Due to the effective antireflection and low resistivity properties of the Ag layer sandwiched between the NTO layers, an NTO/Ag (9 nm)/NTO electrode fabricated at room temperature showed a low sheet resistance of 5.26 /square, a high optical transmittance of 86%, and a figure of merit value of 42.47x10(-3) (-1) even though the NTO layer had an amorphous structure. The NTO/Ag/NTO multilayer electrode is a promising indium-free and cost-efficient transparent conducting electrode substitute for conventional Sn-doped In2O3 electrodes due to the low temperature process, low cost of required elements, and stability of the NTO layer.