The present study evaluates the biosynthesis of AgNPs and AuNPs using aqueous and ethanolic Geum urbanum L. rhizome extracts. The biosynthesized metal nanoparticles (MNPs) were characterized using UV-Vis spectroscopy, FTIR, DLS, SEM, EDX, and TEM. The UV-Vis spectra confirmed the synthesis of AgNPs and AuNPs through peaks corresponding to the surface plasmon effect of metallic Ag (400–430 nm) and Au (530–570 nm). FTIR analysis indicated that alcohols, phenols, proteins, and carbohydrates from G. urbanum rhizome extracts composition are involved in MNPs synthesis. In DLS analysis, AgNPs (34.26–41.14 nm) showed smaller hydrodynamic diameters than AuNPs (46.26–70.29 nm). At the same time, all values for zeta potential were negative, between − 21 and − 13 mV, suggesting good stabilities for all the colloidal MNPs systems in dispersion. TEM analysis showed that the biosynthesized AgNPs had a spherical morphology, while AuNPs were quasi-spherical, polygonal, and triangular. According to TEM data, AgNPs synthesized using aqueous and ethanolic G. urbanum rhizome extracts were characterized by mean diameters of 9.82 ± 3.68 and 14.29 ± 3.46 nm, while AuNPs by 15.88 ± 6.28 and 24.89 ± 10.75 nm, respectively. EDX analysis confirmed the presence of metallic Ag and Au in the MNPs composition by detecting strong signals at 3 (AgNPs) and 2.2 keW (AuNPs). In disc diffusion assay, MNPs showed good antimicrobial activity against Gram-positive (S. aureus MSSA, S. aureus MRSA, S. epidermidis) and Gram-negative (E. coli, P. aeruginosa, K. pneumoniae) bacteria and yeasts (C. albicans). AgNPs and AuNPs were also characterized by a significant antioxidant potential, evaluated through in vitro assays (lipoxygenase inhibition, DPPH radical scavenging activity, metal ion chelating activity, and hydroxyl radical scavenging assays). An overall better activity was obtained for the ethanolic G. urbanum rhizome extract and its derived AgNPs (EC50 = 34.2 ± 1.86 mg/mL in lipoxygenase inhibition assay). Therefore, the G. urbanum rhizome extracts proved to be excellent sources for biologically active AgNPs and AuNPs.