Increased request for metal and metal oxide nanoparticles nanoparticles has led to their large-scale production using high-energy methods with various toxic solvents. This cause environmental contamination, thus eco-friendly “green” synthesis methods has become necessary. An alternative way to synthesize metal nanoparticles includes using bioresources, such as plants and plant products, bacteria, fungi, yeast, algae, etc. “Green” synthesis has low toxicity, is safe for human health and environment compared to other methods, meaning it is the best approach for obtaining metal and metal oxide nanoparticles. This review reveals 12 principles of “green” chemistry and examples of biological components suitable for “green” synthesis, as well as modern scientific research of eco-friendly synthesis methods of magnetic and metal nanoparticles. Particularly, using extracts of green tea, fruits, roots, leaves, etc., to obtain Fe3O4 NPs. The various precursors as egg white (albumen), leaf and fruit extracts, etc., can be used for the „green” synthesis of spinel magnetic NPs. “Green” nanoparticles are being widely used as antimicrobials, photocatalysts and adsorbents. “Green” magnetic nanoparticles demonstrate low toxicity and high biocompatibility, which allows for their biomedical application, especially for targeted drug delivery, contrast imaging and magnetic hyperthermia applications. The synthesis of silver, gold, platinum and palladium nanoparticles using extracts from fungi, red algae, fruits, etc., has been described.