Silver nanoparticles (AgNPs) are a class of nanomaterials that have been widely used in biomedical applications due to their practicality in contemporary society. AgNPs are composed of a variety of atoms, ions, and particles, which are characterized by X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FTIR), XPS, dynamic light scattering (DLS), scanning electron microscope (SEM), transmission electron microscopy (TEM), atomic force microscopies (AFM), and a wide range of physicochemical and biochemical properties. Several studies have been conducted to evaluate the anti-inflammatory, antioxidant, antibacterial, and anticancer properties of AgNP-based nano systems. This review focuses on the recent advances in the field of nanotechnology and discusses the current status of silver nanotechnology.