Shepherdia argentea is a deciduous shrub growing from 2–6 metres (6.6–19.7 ft) tall. The leaves are arranged in opposite pairs (rarely alternately arranged), 2–6 cm long, oval with a rounded apex, green with a covering of fine silvery, silky hairs, more thickly silvery below than above.

The flowers are pale yellow, with four sepals but no petals.

The fruit is a bright red fleshy drupe 5 mm in diameter; it is edible but with a rather bitter taste. Two cultivars, 'Xanthocarpa' and 'Goldeneye', form yellow fruit.

The Latin specific epithet argentea refers to the silver color of the plant's leaves and stems.