Uses of plants extracts are found to be more advantageous over chemical, physical and microbial (bacterial, fungal, algal) methods for silver nanoparticles (AgNPs) synthesis. In phytonanosynthesis, biochemical diversity of plant extract, non-pathogenicity, low cost and flexibility in reaction parameters are accounted for high rate of AgNPs production with different shape, size and applications. At the same time, care has to be taken to select suitable phytofactory for AgNPs synthesis based on certain parameters such as easy availability, large-scale nanosynthesis potential and non-toxic nature of plant extract. This review focuses on synthesis of AgNPs with particular emphasis on biological synthesis using plant extracts. Some points have been given on selection of plant extract for AgNPs synthesis and case studies on AgNPs synthesis using different plant extracts. Reaction parameters contributing to higher yield of nanoparticles are presented here. Synthesis mechanisms and overview of present and future applications of plant-extract-synthesized AgNPs are also discussed here. Limitations associated with use of AgNPs are summarised in the present review.