Background: For centuries, silver has been known for its anti-bacterial effects. It also helps in the prevention and control of various infections. Silver, when synthesized in nano-size, is much more effective, so the trend of using silver nanoparticles in treating mild bacterial diseases to deadly infectious diseases has increased rapidly. Methods: Silver nanoparticles can be synthesized by physical, chemical, and biological methods. Nanoparticles are developed in different shapes and have a wide range of sizes, with the purpose of controlling the release rate and content of the drug’s dose. The nanoparticles can be administered via oral, pulmonary, dermal, and intravenous routes. Results: Silver nanoparticles have been used in treating diseases, such as cancers, diabetes, etc., by targeted drug delivery and in cosmetics, wound healing, diagnostics, water purifying, bio-imaging, air purification, etc. The research on the novel applications of silver nanoparticles merits its medical application, and this utility aspect is granting patented technologies. The utilization of silver nanoparticles has enhanced in recent times due to their effectiveness in the specified diseased state. Conclusion: Studies have indicated that the drugs developed using silver nanoparticles manifest safety as they are biocompatible; thus, silver nanoparticles display a promising role in developing futuristic medical therapeutic strategies.