Silver nanoparticles (AgNPs) synthesis from plants that already have been reported for medicinal purposes demonstrated better efficacy for curing diseases. Recently, a number of researches have been reported where AgNPs act as promising antibacterial and anticancer agent. Biosynthesized silver nanoparticles (AgNPs) are a type of environmentally friendly, cost-effective, and biocompatible substance that has gotten a lot of attention in treatment of cancer and inhibition of pathogenic microbes. In this chapter, a comprehensive report on the recent development of AgNPs as nanomedicine synthesized from plant extracts. The role and mechanism of AgNPs as antibacterial and anticancer agent was reported that leads towards development of targeted nannomedicines to treat infectious diseases and world most challenging disease like cancer. Reported literature give imminence importance of AgNPs and demonstrated more potency to treat cancer and bacterial infections.