Biologically inspired nanomaterials and nanotechnology have advanced in almost all scientific and technological research areas, including biomedical applications and agriculture. Nanomaterials hold immense potential for applications in biomedical and agricultural applications. By harnessing the natural capabilities of plants as sources of reducing and capping agents, the synthesis of nanomaterials becomes cost‐effective eco‐friendly, and yields biocompatible products. Here, we provide a comprehensive overview of various plant‐derived nanomaterials synthesized using different methods, highlighting their applications in biomedical and biological sciences, including bioimaging, biosensing, drug delivery, and therapeutics. Additionally, the impact of nanotechnology on precision agriculture is explored, showcasing recent advancements such as nanofertilizers, nanopesticides, nanobiosensors, and nanocarrier‐mediated delivery systems, which exhibit promising results. These recent developments underscore the transformative potential of nanotechnology in both biomedical and agriculture domains.