Recently, the synthesis and application of metal and ceramic nanoparticle are significant subject in science and engineering. The metal nanoparticles such as silver, gold, and copper nanoparticles have more application in material science, nanomedicine, electronic, photonic, and art. One of the green methods for preparation of metal nanoparticles is laser ablation technique that offers a unique tool for nanofabrication of nanoparticles. In this technique, the high-power laser ablates the metal plate and the nanoparticles are formed in the liquid. The properties of nanoparticles using laser ablation are unique, and they are not reproducible by any other method such as chemical methods. The important parameters to produce the metal nanoparticles are energy, wavelength, repetition rate of laser, ablation time, and absorption of an aqueous solution. Laser ablation is a simple method for fabricating the metal nanoparticles without surfactant or chemical addition. In this chapter, the mechanism of formation of metal nanoparticles in liquid, significant parameters for using the laser ablation technique to prepare the metal nanoparticles, and the preparation of silver, gold and copper nanoparticles will be reviewed.