Well-distributed $SnO_2$-Sn-$Ag_3Sn$ nanoparticles embedded in carbon nanofibers were fabricated using a co-electrospinning method, which is set up with two coaxial capillaries. Their formation mechanisms were successfully demonstrated. The structural, morphological, and chemical compositional properties were investigated by field-emission scanning electron spectroscopy (FESEM), bright-field transmission electron microscopy (TEM), X-ray diffraction (XRD), and X-ray photoelectron spectroscopy (XPS). In particular, to obtain well-distributed $SnO_2$ and Sn and $Ag_3Sn$ nanoparticles in carbon nanofibers, the relative molar ratios of the Ag precursor to the Sn precursor including 7 wt% polyacrylonitrile (PAN) were controlled at 0.1, 0.2, and 0.3. The FESEM, bright-field TEM, XRD, and XPS results show that the nanoparticles consisting of $SnO_2$-Sn-$Ag_3Sn$ phases were in the range of ~4 nm-6 nm for sample A, ~5 nm-15 nm for sample B, ~9 nm-22 nm for sample C. In particular, for sample A, the nanoparticles were uniformly grown in the carbon nanofibers. Furthermore, when the amount of the Ag precursor and the Sn precursor was increased, the inorganic nanofibers consisting of the $SnO_2$-Sn-$Ag_3Sn$ nanoparticles were formed due to the decreased amount of the carbon nanofibers. Thus, well-distributed nanoparticles embedded in the carbon nanofibers were successfully synthesized at the optimum molar ratio (0.1) of the Ag precursor to the Sn precursor after calcination of $800^{circ}C$.