High-purity (99.99%) silver thin-film coatings were deposited on glass substrates using a DC magnetron sputtering system. Double-layer transparent conductive films were then prepared by depositing 97:3 at% zinc oxide-doped magnesium fluoride (ZnO:MgF2) films on the silver coatings. The films were annealed at temperatures in the range of 200–500 ℃ under vacuum to promote structural rearrangement and reduce internal defects. The thickness, electrical properties, optical properties, surface characteristics, and figures of merit of the various films were examined and compared. The results showed that the double-layer film annealed at the highest temperature of 500 ℃ had the lowest resistivity of 1.68 × 10−5 Ω-cm. By contrast, the maximum optical transmittance (67.13%) and best quality factor (2.45 × 10−3 Ω−1) were observed in the film annealed at the lowest temperature of 200 ℃.