Nanomaterials synthesized by natural bioresources such as microorganisms, animals and plants in nature can also be synthesized in laboratories even on large scale. This is considered as an attractive prospect for eco-friendly or so-called green synthesis. Development of eco-friendly synthesis of biocompatible nanoparticles and their potential biomedical applications introduces the concept of nanobiotechnology. The lower cost and lesser side effects as compare to chemical methods of synthesis are the main advantages of biosynthesis. This review article demonstrates the role of various biological resources e.g. bacteria, fungi, actinomycetes, plant leaves, fruits and honey as well as animal tissues for the synthesis of nanoparticles mainly gold and silver with an overview of their potential applications.