To　construct　semiconductor-based　photocatalysts　for　carbon　dioxide　(CO2)　reduction　with　high　activity　and　stability　remains　a　long-term　goal.　Herein,　we　report　a　ternary　Ag-Cu2O/ZnO　nanorods　(NRs)　hybrid　catalyst　with　efficient　charge　carrier　separation/transfer　and　CO　2　adsorption　capacity,　which　demonstrates　much　improved　activity　in　comparison　with　bare　ZnO　NRs　for　photocatalytic　CO2　reduction　to　carbon　monoxide　(CO)　under　UV-vis　light.　Mechanistic　studies　reveal　that　the　deposited　Cu2O　enhances　the　CO2　chemisorption　on　the　surface　of　catalysts　and　the　formation　of　Z-scheme　system　between　Cu2O　and　ZnO　facilitates　the　photogenerated　charge　separation.　The　subsequent　assembly　of　Ag　nanoparticles　(NPs)　onto　Cu2O　is　able　to　further　promote　the　transfer　of　electrons　due　to　the　＂electron　sink＂　effect　of　Ag,　which　leads　to　the　higher　photocatalytic　activity.　As　such,　the　synergy　effect　of　strong　CO2　chemisorption　and　multiple　electrons　transfer　results　in　the　boosted　photocatalytic　activity　of　Ag-Cu2O/ZnO　NRs　for　CO2　reduction.　In　addition,　compared　with　the　binary　Cu2O/ZnO　NRs,　the　activity　of　Ag-Cu2O/ZnO　NRs　can　be　well　maintained　after　multiple-cycle　reaction.　The　possible　reason　is　that　the　deposited　Ag　can　alleviate　the　self-photoreduction　of　Cu2O　by　transferring　the　excess　electrons　accumulated　in　the　conduction　band　(CB)　of　Cu2O,　thus　preserving　the　stability　of　the　Ag-Cu2O/ZnO　NRs　photocatalyst.