Objectives To assess the extracellular synthesis of silver nanoparticles using marine derived fungiAspergillus brunneoviolaceuswith their antibacterial and antioxidant activities. Results The biosynthesis of silver nanoparticles was estimated by the change in color from light yellow to dark brown within 36 h as the reaction progressed. UV-Visible spectroscopy exhibited its stability at 411 nm; ATR-FTIR spectroscopy depicted the functional group responsible for its production; X-Ray Diffraction denoted its crystalline FCC structure resembling the peaks in XRD pattern, corresponding to [111], [200], [220], [311] and [222] planes; TEM imaging revealed its spherical morphology with the particle size ranging from 0.72 to 15.21 nm and Tauc's plot analysis that disclosed its band gap energy as 2.44 eV that manifested the potential of AgNPs to be semiconductors. The characterization data henceforth, confirmed the efficient production of silver nanoparticles. The biosynthesized AgNPs expressed strong antibacterial activity against two Gram-positive and three Gram-negative bacteria. They also proved to possess higher antioxidative potentials by showing their potent radical scavenging activity against DPPH (2, 2-diphenyl-1-picrylhydrazyl). Conclusions The study unfolds the prospect for further utilization of this mycogenically synthesized AgNPs as antibacterial, antioxidative and anticancer agents. Graphic abstract