Thermo-optical properties of nanocomposite materials consisting of noble metal nanoparticles dispersed in a dielectric medium are appropriate for many applications as imaging, nonlinear optics, or optical monitoring of local thermal exchanges. Here, we analyze the thermo-optical response of silver nanoparticles. The contribution of inter- and intraband transitions to the thermo-optical index of bulk silver is first extracted using experimental results reported earlier in the literature. The influence of these two contributions on the thermo-optical properties of silver nanoparticles embedded in glass is then investigated. The results show that these properties are essentially due to the intraband thermo-optical contribution in the vicinity of the surface plasmon resonance of the nanoparticles, while they are dominated by the interband contribution close to the interband transition threshold.