A green, eco-friendly approach to biosynthesizing silver nanoparticles has been reported for marine macroalga (Cystoseira myrica) extract as a reducing agent. Different pH and temperature impact the green synthesis of silver nanoparticles suggesting that the synthesis depends greatly on pH and temperature. The structure and characters of synthesized nanoparticles were confirmed using HR-TEM, DLS, XRD, and FTIR. Cytotoxicity was indicated using provided cell lines of breast carcinoma cells (MCF-7) and human hepatocellular carcinoma cells (HepG2). Shape of silver nanoparticles at pH 9 and 75°C for 30 min was found to be suitable for the biosynthesis process and the AgNPs exhibited a characteristic absorption peak at 434 nm. High Resolution Electron Microscope Transmission reported polydisperse and spherical shapes ranging from 8 to 15 nm. High attractive and repulsive forces between each nanoparticle were recorded with an average zeta-potential value of approximately −29.3 mV. The X-ray diffraction study revealed the crystalline structure of silver nanoparticles. FTIR has shown the bioreduction of silver ions to silver nanoparticles through biomolecules found in algal extract. Silver nanoparticles have been found to have anticancer activity. The cytotoxicity assay was studied against MCF-7 and HepG2 at various concentrations (100, 50, 25, 12.5, 6.25, 3.125, 1.56, 0.78, 0.39, 0.2, and 0.1 μg/mL). By increasing the concentration of AgNPs from 0.1 to 100 μg/mL, the maximum percentage of viability against MCF-7 and HepG2 cell line decreased from 94.55 ± 7.55 to 19.879 ± 0.503 and from 78.56 ± 11.36 to 25.81 ± 2.66 after time exposure, respectively.