Green synthesis of nanoparticles is an environmentally friendly method to produce nanoparticles with unique biological, physical, and chemical properties. Today, biological synthesis methods have drawn significant attention because of the drawbacks of physical and chemical synthesis, such as poisonous side effects, time and power usage, and heavy price. Among different microorganisms, cyanobacteria are suitable candidates as regenerating and stabilizing agents because of their capability to collect heavy metals from the environment and produce various bioactive compounds such as colorants and enzymes. The green synthesis of nanoparticles by cyanobacteria has captivated extensive consideration as a secure, easy, stable, economical, and environmentally friendly resolution for biomedical and veterinary applications. Meanwhile, the secondary metabolites synthesized by cyanobacteria with the ability of extracellular and extracellular metals reduction and oxidation are very noteworthy and have antibacterial, antifungal, anti-algae, anticancer, and photocatalytic activities. This study considers the properties, as well as biomedical and veterinary applications of nanoparticles generated by cyanobacteria.