A facile method was proposed to prepare stretchable silver-based composite coatings with excellent conductivity and stability for flexible electronics. Silver coating was firstly deposited on thermoplastic polyurethane (TPU) elastomer rubber surface via two-component spraying technique, then the superhydrophobic surface was obtained by one-step electrodeposition of cerium compounds (CeM) and graphene nanosheets (GNS) to produce Ag/CeM/GNS composite coatings. The obtained Ag/CeM/GNS composite coatings maintained high conductivity after experiencing bending cycles and stretching cycles. Furthermore, the as-prepared Ag/CeM/GNS composite coatings showed excellent self-cleaning and anti-fouling properties, and the corrosion resistance has improved significantly compared to the original Ag coating. In addition, the Ag/CeM/GNS composite coatings could drive the circuit normally in the states of tensile, bending and twisting deformation, showing excellent mechanical stability and applicability. As a result, it is believed that the prepared Ag/CeM/GNS composite coatings with excellent conductivity and stability have promising applications for flexible electronics in harsh conditions.