Noble metal nanoparticles due to their unique optical properties arising from their interactions with an incident light have been intensively employed in a broad range of applications. This review comprehensively describes fundamentals behind plasmonics, used to develop applications in the fields of biomedical, energy, and information technologies. Basic concepts (electromagnetic interaction and permittivity of metals) are discussed through Mie theory presented as the main model for interpreting phenomena of optical absorption and scattering. The effects of near‐field enhancement, shape, composition, and surrounding medium of nanoparticles on optical properties are described in detail. The review explores and identifies the potential of plasmonic nanoparticles based on their optical properties (e.g., light absorption, scattering, and field enhancement) for developing different applications (biomedical, energy and information technologies). Due to a significant impact of plasmonic nanoparticles on medicine and healthcare products and technologies, the review initially focuses on biomedical applications extensively benefited from optical features of these nanoparticles. Advantages of the optical properties outstandingly implemented are also briefly discussed in other applications, including energy and information technologies. This review concisely summarizes the explored areas based on plasmonic properties, compares advantages of plasmonic nanoparticles over other types of nanomaterials and highlights challenges.