Developing a rapid, reliable and eco-accommodating methodology for the synthesis of metal/metal oxide nanoparticles (NPs) is an important step in the area of nanotechnology. Cobalt oxide nanoparticles (Co3O4 NPs) have been widely studied due to their potential applications including, antibacterial, antifungal, electrochromic sensors, heterogeneous catalysis, and energy storage devices. Due to the large rate of perilous chemicals employed in the physical and chemical production of these NPs, green methods employing the use of plants, fungus, algae, and bacteria have been adopted. However, plant-mediated synthesis of metal NPs has been developed as a substitute to defeat the restrictions of conventional synthesis approaches such as physical and chemical methods. Biomolecules, such as tannins, saponins, proteins, amino acids, steroids, enzymes, flavonoids, and vitamins from several plant extracts have been used as a stabilizing and reducing agents for the synthesis of Co3O4 NPs. Recently, several attempts were made to develop plant-mediated synthesis methods to produce stable, cost-effective, and eco-accommodating Co3O4 NPs. In this review, a comprehensive study was conducted on synthesis, characterization, and various applications of Co3O4 NPs produced using various plant sources.