Interest in “green nanotechnology” in nanoparticle biosynthesis is growing among researchers. Nanotechnologies, due to their physicochemical and biological properties, have applications in diverse fields, including drug delivery, sensors, optoelectronics, and magnetic devices. This review focuses on the green synthesis of silver nanoparticles (AgNPs) using plant sources. Green synthesis of nanoparticles is an eco-friendly approach, which should be further explored for the potential of different plants to synthesize nanoparticles. The sizes of AgNPs are in the range of 1 to 100 nm. Characterization of synthesized nanoparticles is accomplished through UV spectroscopy, X-ray diffraction, Fourier transform infrared spectroscopy, transmission electron microscopy, and scanning electron microscopy. AgNPs have great potential to act as antimicrobial agents. The green synthesis of AgNPs can be efficiently applied for future engineering and medical concerns. Different types of cancers can be treated and/or controlled by phytonanotechnology. The present review provides a comprehensive survey of plant-mediated synthesis of AgNPs with specific focus on their applications, e.g., antimicrobial, antioxidant, and anticancer activities.