In this study, a fungal endophyte was isolated from Anaphalis contorta, a medicinal plant and identified as Plectosphaerella oligotrophica using ITS-rDNA gene sequencing that shows 99.61% similarity. Production of hydrolytic enzymes by this fungus was determined. The isolate was allowed to biosynthesize silver nanoparticles(AgNPs)which was confirmed using UV-Vis spectrophotometer. The biological activities of P. oligotrophica and AgNPs were assessed in vitro. The antifungal activity of P. oligotrophica was evaluated using a modified dual culture method against ten phytopathogens and found to show highest activity against A. flavus, U. virens, A. tenuisimma, and no activity against A. niger. The AgNPs have shown antifungal activity against all the tested pathogens with the highest inhibition against U. virens (60%). Antibacterial activity was conducted using the agar well diffusion method and 96-well microtitre method against six pathogenic bacteria. The ethyl acetate extract of P. oligotrophica was found to possess weak to moderate antibacterial activity showing highest activity against S. typhi with the MIC of 62.50 µg/ml. The AgNPs have shown strong antibacterial activity with the greatest inhibition against S. typhi having MIC of 15.62 µg/ml. The antioxidant activity was assessed using DPPH assay. The P. oligotrophica extract and AgNPs have shown inhibitions of 49.85% and 59.56%, respectively.The biosynthesized AgNPs displayed potential biological activities and hence provided an important application for agricultural sciences, medical sciences, and pharmaceutical industries.