Multifunctional lightweight and mechanically robust aerogels have been shown potential interest in flexible electronics and electromagnetic interference (EMI) shielding applications. In this work, we demonstrate an environmental friendly template assist cost-efficient silver/3D graphene aerogels (Ag/GAs) by one step freeze-casting route and explore for conductive electrodes and shielding applications. The influence of Ag content on the structural, mechanical, electrical properties, and shielding performance of GAs and its EM interactions were studied. The Ag/GAs exhibited elastic behavior without evidencing plastic deformation under cyclic compressive loading. Broadband conductivity studies suggest the Ag/GAs exhibited superior frequency-independent behavior with electrical conductivity ~0.032 S/cm and consequently enhanced the EM shielding effectiveness up to ~32 dB. The efficient EMI shielding performance of the Ag/GAs is envisaged by connective dissipation as well as multiple reflections and scattering of EM waves by the effect of Ag nanofillers in the 3D-graphene network.