New nontoxic hydrophilic nanocomposites containing metallic silver nanoparticles (AgNPs) in a polymer matrix were synthesized by the chemical reduction of silver ions in an aqueous medium. A new nontoxic water soluble copolymer of 1-vinyl-1,2,4-triazole and N-vinylpyrrolidone synthesized by free radical-initiated polymerization was used as a stabilizing agent. Transmission electron microscopy, scanning electron microscopy, ultraviolet-visible spectroscopy, Fourier transform infrared spectroscopy, X-ray diffraction, atomic absorption, and thermogravimetric analysis were used to characterize polymeric AgNPs nanocomposites. The results showed that the diameter of the synthesized AgNPs ranged from 2 to 6 nm. The toxicity of the initial copolymer of 1-vinyl-1,2,4-triazole and N-vinylpyrrolidone and its nanocomposite with AgNPs was found to be more than 5,000 mg/kg. The synthesized AgNP polymeric nanocomposite showed significant antimicrobial activity against different strains of Gram-negative and -positive bacteria. The minimum inhibitory concentrations suppressing the growth of the microorganisms ranged from 0.5 to 8 µg/mL and the minimum bactericidal concentrations ranged from 0.5 to 16 µg/mL. The fabricated AgNP nanocomposites are promising materials for the design of novel nontoxic hydrophilic antiseptics and antimicrobial components for medical purposes.