Although organic light-emitting diodes (OLEDs) are considered a mature technology, further enhancements in their efficiency are of paramount importance for advancing their incorporation in high-quality displays and flexible, wearable, electronic devices. In this regard, we propose an innovative approach, focusing on strategic modifications to the hole transport layer (HTL) through the integration of core-shell nanoparticles. Silver nanoparticles (Ag-NPs) encapsulated in a tungsten polyoxometalate compound (POM) are embedded within the prototype poly(3,4-ethylenedioxythiophene)-poly(styrenesulphonate) (PEDOT:PSS) to form the modified HTL. Our work reveals the pivotal plasmonic role of Ag-NPs in enhancing OLED device performance based on commercially available conjugated polymers. Comprehensive analyses, including UV–Vis absorption spectroscopy, atomic force microscopy, photoluminescence spectroscopy, and electrical measurements, confirm the core-shell configuration influence of the encapsulated Ag-NPs within the POM shell on improving device efficiency. This is attributed to the synergistic influence of enhanced hole injection and conductivity and beneficial optical effects (i.e. the Localized Surface Plasmon Resonance (LSPR) and, likely, light scattering of the POM-Ag NPs in the core-shell configuration, depending on their diameter), contributing to enhanced carrier balance and exciton recombination rate. Comparison with POM gold NPs (POM-Au NPs) highlights the distinct advantages of POM-Ag NPs. Our work reveals the potential of this innovative approach to contribute to the evolution of high-performance OLEDs, ensuring a visually compelling and efficient future.