In this study, platinum nanoparticles (Pt NPs) were synthesized by a green method using an aqueous extract of Eucalyptus camaldulensis with assistance of microwave irradiation (850W) and their physicochemical characteristics were studied by UV-visible spectroscopy, scanning electron microscopy (SEM), energy-dispersive X-ray spectroscopy (EDS), X-ray diffraction (XRD), and Fourier transform infrared spectroscopy (FTIR) analyses. Antioxidant activities, hemocompatibility, and cytotoxic effects of the prepared Pt NPs were then evaluated. The attained results showed that the newly formed Pt NPs possess a size range between 7.4 and 11.2nm. These spherical-shaped NPs were slightly aggregated and held various functional groups on their surface. The antioxidant activity of Pt nanostructures was comparable to that of butylated hydroxyl anisole at concentrations higher than 320µg/mL. At the same concentration of 640μg/mL, the scavenging activities were 3.36 ± 0.9% (hexachloroplatinic acid) and 52.13 ± 0.43% (Pt NPs). The results of hemolytic assay revealed satisfactory hemocompatibility of the Pt NPs even at the concentration as high as 4mg/mL (hemolysis percent equal to 3.5 ± 1.3%). The cytotoxicity studies revealed that MCF-7, A549, and 3T3 cell lines treated with hexachloroplatinic acid and cisplatin for 24h and 48h showed a higher percentage of cell death compared with the Pt NPs. After 24h, for A549, 3T3, and MCF-7 cells exposed to Pt NPs, the cell viability was measured to be 80 ± 3.2%, 96 ± 1%, and 89 ± 2.6%, respectively, at concentration of 640µg/mL. Further investigations are required to elucidate the mechanisms behind the biological activities of as-synthesized Pt NPs.