Over the past few decades, the synthesis and potential applications of nanocatalysts have received great attention from the scientific community. Many well-established methods are extensively utilized for the synthesis of nanocatalysts. However, most conventional physical and chemical methods have some drawbacks, such as the toxicity of precursor materials, the requirement of high-temperature environments, and the high cost of synthesis, which ultimately hinder their fruitful applications in various fields. Bioinspired synthesis is eco-friendly, cost-effective, and requires a low energy/temperature ambient. Various microorganisms such as bacteria, fungi, and algae are used as nano-factories and can provide a novel method for the synthesis of different types of nanocatalysts. The synthesized nanocatalysts can be further utilized in various applications such as the removal of heavy metals, treatment of industrial effluents, fabrication of materials with unique properties, biomedical, and biosensors. This review focuses on the biogenic synthesis of nanocatalysts from various green sources that have been adopted in the past two decades, and their potential applications in different areas. This review is expected to provide a valuable guideline for the biogenic synthesis of nanocatalysts and their concomitant applications in various fields.