The influence of the substrate temperature on the effective optical behavior of Ag-SiO2 composites obtained by electron beam evaporation was studied. Optical characterization of the composites was performed by means of spectroscopic ellipsometry measurements. The effective dielectric function of the composites, modeled using a multiple oscillator approach, could be widely tuned by controlling the deposition temperature. The spectral dependence of the composite absorption appeared to be better described with a Gaussian line shape than with the classical Lorentz oscillator model. The description of the effective dielectric function using standard effective medium theories failed and the experimental results could be explained only in the general framework of the Bergman spectral density theory.