Nanotechnology is the most advanced and rapidly progressing field of science and technology. It primarily deals with developing novelty in nanomaterials by understanding and controlling matter at the nanoscale level. Silver nanoparticles (AgNPs) are the most prominent nanoparticles incorporated with wide-ranging applications, owing to their distinct characteristics. Different methods have been employed for nanoparticles synthesis like chemical method, physical method, photochemical method, top-down/bottom-up approach and biological methods. The positive impacts of silver nanoparticles have been observed in various economy-based sectors, including agriculture. The scientific curiosity about AgNPs in agriculture and plant biotechnology has shown optimum efficacy over the last few years. It not only enhances seed germination and plant growth, but also improves the quantum efficiency of the photosynthetic process. AgNPs play a vital role in agriculture by having several applications that are crucial for ensuring food security and improving crop production. Moreover, they also act as nano-pesticides, providing sufficient dose to the target plants without releasing unnecessary pesticides into the environment. Nano-fertilizers slowly release nutrients to the plants, thereby preventing excessive nutrient loss. AgNPs are utilized for effective and non-toxic pest management, making them an excellent tool for combating pests safely. They combine either edible or non-biodegradable polymers for active food packaging. In addition, AgNPs also possess diverse biological properties such as antiviral, antibacterial and antifungal activities, which protect plants from hazardous microbes. The aim of this review is to comprehensively survey and summarize recent literature regarding the positive and negative impacts of AgNPs on plant growth, as well as their agricultural applications.