Nanotechnology is one of the modern techniques of material science which have received much importance in the last many years. Nanotechnology is concerned with the production of nanoparticles (NPs) with restricted sizes and shapes through a facile, straightforward, and medicinally active phytochemical route. This study aims to develop an easy and justifiable method for the green synthesis of HH AgNPs using Hippeastrum hybridum (HH) extract and then to investigate the effects of HH AgNPs as a free radical scavenger, and an inhibitor of the two enzymes i‐e Alpha‐amylase (α‐amylase) and acetylcholinesterase (AChE). UV‐Vis spectrum at 432 nm with maximum absorbance at 1.98 confirmed the AgNPs formation. Fourier transform infrared spectroscopy (FT‐IR) conformed to the peaks for the functional groups of HH extract and on the surface of HH AgNPs that are involved in the synthesis and stability of the HH AgNPs. The average size of 13.3 nm for AgNPs was calculated using four major peaks at 37.92°, 43.79°, 64.27°, and 77.18° of X‐Rays Diffraction (XRD) analysis. The scanning electron microscope (SEM) analysis confirmed the presence of spherical shaped, monodispersed, and huge density AgNPs with an average 40 nm size of AgNPs. Energy dispersive X‐ray (EDX) confirmed the intense sharp peak at 3.1 keV showing that silver was the main element (22.75%). The HH AgNPs showed an excellent %scavenging of Ferric chloride (75.5 ± 0.014%), Ammonium molybdenum (72.1 ± 0.0021%), DPPH (69.6 ± 0.059%), H2O2 (65 ± 0.001%), and ABTS (68.3 ± 0.07%). Statistical analysis indicated HH AgNPs caused a non‐competitive type of inhibition (Km constant and Vmax decrease) against α‐amylase and AChE. Our results suggest that AgNPs exhibited significant antioxidant, antidiabetic, and antialzheimer activities in a concentration‐dependent manner as compared to AgNO3 and plant extract. However, further investigations are recommended to be able to minimize potential risks of application.