Exploration of nanoparticles (NPs) for diverse biological and environmental applications has become one of the most crucial aspects of nanotechnology. Silver nanoparticles (AgNPs) are the most explored and employed NPs in a variety of applications because of their exceptional physicochemical properties. Physical and chemical techniques for AgNPs synthesis have been described over the period. However, the most of the available methods are expensive, unsustainable, and harming to the environment. As a result, the focus of this review is on innovative biological approaches for AgNP synthesis that are simple to use, cheap to produce, with recent advances and future aspects. There are various factors including the synthesis method, temperature, dispersing agent, pH etc. which highly influence the quality and quantity of the synthesized NPs and ultimately affect their properties. This review also highlights the potential applications of AgNPs in modern agricultural practices. In this review, we highlight the biosynthesis of AgNPs, various influence factors and reducing agents influenced synthesis of AgNPs and discuss recent examples of their applications.