The synthesis of nanoparticles is in the limelight in modern nanotechnology. Biosynthesis of nanoparticles by using different methods is currently under exploitation. Nanoparticles can be synthesized by Bacteria, Virus, Fungi, Algae and Plants. Biosynthesis of Nanoparticles is a simple process in which intracellular and extracellular extract of an organism is mix with a metal salt. Their optical properties are reported to be dependent on the size, which imparts different colors due to absorption in the visible region. Their reactivity, toughness and other properties are also dependent on their unique size, shape and structure. Due to these characteristics, they are suitable candidates for various commercial and domestic applications, which include catalysis, imaging, medical applications, energy-based research, and environmental applications. This review explains the various microorganisms like bacteria, algae, fungi; virus, plants and yeast involved in the synthesis of these Nanoparticles also elucidate the characterization of Nanoparticles and its applications.