Green synthesis of silver nanoparticles (AgNPs) is limited to produce AgNPs with only relatively low concentrations, which is unsuitable for large-scale productions. The use of Myrtus communis (MC) leaf methanolic extract (rich in hydrolyzable tannins) has been recommended to resolve the issues related to aggregation of the nanoparticles at high concentrations of silver ions with added facet of antioxidant properties.The produced highly concentrated MC-AgNPs were characterized by using imaging and spectroscopic methods. Subsequently, antioxidant, anticancer and antifungal activities of the nanoparticles were evaluated.The thermogravimetric analysis and energy dispersive spectroscopy quantitative results suggested that the nanoparticles are biphasic in nature (bio-molecule + Ag0) and layered in structure, suggesting the formation of nanoparticles through a different mechanism than what was described in the literature. MC-AgNPs showed greater scavenging activity of nitric oxide and iron (II) chelating ability than the extract. It also showed good reducing power activity compared to the standard antioxidant. Remarkable anticancer activity of MC-AgNPs (IC50 = 5.99μg/mL) was found against HCT-116 (human colon carcinoma) cell lines after 24h exposure with a therapeutic index value 2-fold higher than the standard doxorubicin therapeutic index. Furthermore, distinct antifungal activity (MIC = 4 μg/mL) was found against Candida krusei.The current method outperforms the existing methods because it produces a large amount of multifunctional nanoscale hybrid materials more efficiently by fewer times using natural sources; thus, it may be used for diverse biomedical applications.