21-year-old Emma Gullstrand was noted for a total of 259.65 points in the final.
Home jumper Elena Bertocchi took the gold with 264.25 points and compatriot Chiara Pellacani finished in bronze.
The final's other Swede, Emilia Garip Nilsson, finished in fifth place.
It was the second year in a row that there was a Swedish European Championship medal, last year Emma Gullstrand took bronze in the three-meter event.
It was then the first Swedish medal in an international championship at senior level since Anna Lindberg's gold double in European Championships 2012.
The European Championships in diving began on Tuesday.
The text is updated.