Green synthesis of silver nanoparticles (SNPs) by harnessing the natural abilities of plant secondary metabolites has advantages over routine physical and chemical synthetic approaches due to their one-step experimental setup to reduce and stabilize the bulk silver into SNPs, biocompatible nature, and therapeutic significance. The unique size, shape, and biochemical functional corona of SNPs embellish them with the potential to perform therapeutic actions by adopting various mechanistic approaches including but not limited to the disruption of the electron transport chain, mitochondrial damage, DNA fragmentation, inhibition of ATP synthase activity, disorganization of the cell membrane, suspension of cellular signaling pathways, induction of apoptosis, and inhibition of enzymes activity. This review elaborates the biogenic synthesis of SNPs in redox chemical reactions by using plant secondary metabolites found in plant extracts. In addition, it explains the synergistic influence of physicochemical reaction parameters such as the temperature, pH, the concentration of the AgNO3, and the ratio of reactants to affect the reaction kinetics, molecular mechanics, enzymatic catalysis, and protein conformations that aid to affect the size, shape, and potential biochemical corona of nanoparticles. This review also provides up-to-date information on the mechanistic actions that embellish the plant-based SNPs, an anticancer, cytotoxic, antidiabetic, antimicrobial, and antioxidant potential. The mechanistic understanding of the therapeutic actions of SNPs will help in precision medicine to develop customized treatment and healthcare approaches for the welfare of the human population.