The present work describes a method for the development of an efficient silver nanowire (AgNWs) embedded indium tin oxide (ITO) based silicon heterojunction solar cell. The working mechanism of the heterojunction solar cell is studied by using the current-voltage (J-V) and Impedance spectroscopy (IS) techniques. A relatively high efficiency has been achieved for AgNWs embedded ITO-Si heterojunction solar cell in which AgNWs network acts as a transparent buried contact. The value of m under dark and illumination are obtained as 2.81 and 2.79 respectively. A relatively higher value of m signifies the recombination current in space charge region of AgNWs embedded ITO and Si layer dominates the diode current. In the fabricated solar cell a higher value of RS is one of the reasons for a lower FF and performance of the device. Our study opens a path for the utilization of new architecture for various heterojunction solar cells without an additional doping process. Further improvements on the performance of device can be envisioned by further characterizing the material to show the origin of poor FF. Future studies will be done to improve the device performance by enhancing the light harvesting properties of ultrathin c-Si substrates using Si nanostructures, anti-reflection coatings or metallic nanoparticles.