Water pollution is a worldwide environmental and health problem that requires the development of sustainable, efficient, and accessible technologies. Nanotechnology is a very attractive alternative in environmental remediation processes due to the multiple properties that are conferred on a material when it is at the nanometric scale. This present review focuses on the understanding of the structure–physicochemical properties–performance relationships of silver nanoparticles, with the objective of guiding the selection of physicochemical properties that promote greater performance and are key factors in their use as antibacterial agents, surface modifiers, colorimetric sensors, signal amplifiers, and plasmonic photocatalysts. Silver nanoparticles with a size of less than 10 nm, morphology with a high percentage of reactive facets {111}, and positive surface charge improve the interaction of the nanoparticles with bacterial cells and induce a greater antibacterial effect. Adsorbent materials functionalized with an optimal concentration of silver nanoparticles increase their contact area and enhance adsorbent capacity. The use of stabilizing agents in silver nanoparticles promotes selective adsorption of contaminants by modifying the surface charge and type of active sites in an adsorbent material, in addition to inducing selective complexation and providing stability in their use as colorimetric sensors. Silver nanoparticles with complex morphologies allow the formation of hot spots or chemical or electromagnetic bonds between substrate and analyte, promoting a greater amplification factor. Controlled doping with nanoparticles in photocatalytic materials produces improvements in their electronic structural properties, promotes changes in charge transfer and bandgap, and improves and expands their photocatalytic properties. Silver nanoparticles have potential use as a tool in water remediation, where by selecting appropriate physicochemical properties for each application, their performance and efficiency are improved.