The aim of this work was to study the influence of severe plastic deformation (SPD) on the dissolution of silver particles in Cu–8wt.%Ag alloys. In order to obtain different morphologies of silver particles, samples were annealed at 400, 500 and 600 °C. Subsequently, the material was subjected to high pressure torsion (HPT) at room temperature. By means of scanning and transmission electron microscopy, as well as X-ray diffraction techniques, it was found that during SPD, the dissolution of second phase was strongly affected by the morphology and volume fraction of the precipitates in the initial state. Small, heterogeneous precipitates of irregular shape dissolved more easily than those of large size, round-shaped and uniform composition. It was also found that HPT led to the increase of solubility limit of silver in the copper matrix as the result of dissolution of the second phase. This unusual phase transition is discussed with respect to diffusion activation energy and mixing enthalpy of the alloying elements.