The main objective of this study is to showcase the use of synergistic utilization of model‐independent and model‐dependent approaches for analyzing small angle X‐ray scattering (SAXS) data to determine the shape and size of different nanostructures viz. spherical, nanorod, and core‐shell. Herein, different gold nanostructures viz. spherical, nanorod, and core‐shell are synthesized and analyzed using SAXS. First, the SAXS data are analyzed using Guinier law, PDDF (pair–distance distribution function) plots, double logarithmic plots, and electron density curves to get primary information about the size and shape of nanostructures. This information is utilized for choosing an appropriate model and initial input parameters for fitting the SAXS data. The observations obtained from SAXS studies are compared with transmission electron microscopy and UV–vis spectroscopy. It is believed that this study will help in understanding the analysis of SAXS data using a systematic and synergistic approach of utilizing the two methods. It is believed that the study will further add to the understanding of the technique as an alternative approach for transmission electron microscopy.