This study presents a novel approach to synthesizing silver nanoparticles (Ag NPs) using a solution combustion synthesis (SCS) method with Catharanthus roseus (C. roseus) leaf extract. The NPs were thoroughly characterized through X‐ray diffraction (XRD), Scanning electron microscopy (SEM), Energy dispersive X‐ray (EDX), Transmission electron microscopy (TEM), and Selected area electron diffraction (SAED), elucidating their crystal structure. Notably, the synthesized Ag NPs exhibited a significant dose‐dependent decline in viability of the MDA‐MB 231 breast cancer cell line, with an IC50 value of 13.3 µg/mL, underscoring their potential as potent anticancer agent. Beyond cytotoxicity, the study pioneers an investigation into the biocompatibility of Ag NPs by blood hemolsysis, providing critical insights into their safety and biomedical applicability. Furthermore, this research uncovers a distinctive facet of Ag NPs, revealing their inhibitory effects on the inflammatory enzyme secretory phospholipase A2 (sPLA2), a recognized biomarker for breast cancer. The demonstrated in vitro and in vivo inhibition of sPLA2 highlights the multifaceted potential of Ag NPs in not only targeting cancer cells but also modulating inflammatory responses associated with breast cancer, positioning the study at the forefront of advancements in nanomedicine and cancer therapeutics.