Nanotechnology has become the foremost promising and rising field of analysis as a result of its applications in numerous fields. Development of consistent and greener ways for the synthesis of nanoparticles could be a dynamic step in the field of nanotechnology. To avoid the emergence of dangerous by-products, many attempts have been made in recent years to develop environment friendly methods. “Green” synthesis is a consistent, sustainable, and environment friendly method for the synthesis of an enormous range of nanoparticles. Green synthesis is seen as an important tool to reduce the harmful effects of traditional nanoparticle synthesis methods commonly used in laboratories and industries. Nanoparticles exhibit unique chemical and physical properties that are useful in various fields. Among metallic nanoparticles, silver nanoparticles have become a research hotspot due to their wide range of applications. Silver nanoparticles are important because of their exceptional chemical, physical, and biological properties. Because of these unique characteristics, silver nanoparticles have numerous applications and are used as antifungal, antiviral, and antibacterial agents. They have an excellent catalytic effect on dye degradation, are very good antioxidants, and can be used to treat various diseases and exhibit wound-healing activities. The current review complies with the database of green synthesis of silver nanoparticles using plant extracts, bacteria, and fungi, which have potential applications in fields of science, health, textiles, food packaging, agriculture, and environment. The review also highlights the application of silver nanoparticles as antimicrobial, antibacterial, antiviral, and antifungal agents. The knowledge on silver nanoparticle production conditions, properties, molecular mechanisms, and applications will be of great help for researchers to explore more applications of nanoparticles in fields that are still untouched.