Spherical silver nanoparticles (nano-Ag) were synthesized and their antifungal effects on fungal pathogens of the skin were investigated. Nano-Ag showed potent activity against clinical isolates and ATCC strains of Trichophyton mentagrophytes and Candida species ($IC_{80}$, 1-7${mu}g/ml$). The activity of nano-Ag was comparable to that of amphotericin B, but superior to that of fluconazole (amphotericin B $IC_{80}$, 1-5${mu}g/ml$; fluconazole $IC_{80}$, 10-30${mu}g/ml$). Additionally, we investigated their effects on the dimorphism of Candida albicans. The results showed nano-Ag exerted activity on the mycelia. Thus, the present study indicates nano-Ag may have considerable antifungal activity, deserving further investigation for clinical applications.