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Because of their small size and large specific surface area, nanoparticles (NPs) have special properties that are different from bulk materials. In particular, Au/Ag NPs have been intensively studied for a long time, especially for biomedical applications. Thereafter, they played a significant role in the fields of biology, medical testing, optical imaging, energy and catalysis, MRI contrast agents, tumor diagnosis and treatment, environmental protection, and so on. When synthesizing Au/Ag NPs, the laser ablation and biosynthesis methods are very promising green processes. Therefore, this review focuses on the progress in the laser ablation and biological synthesis processes for Au/Ag NP generation, especially in their fabrication fundamentals and potential applications. First, the fundamentals of the laser ablation method are critically reviewed, including the laser ablation mechanism for Au/Ag NPs and the controlling of their size and shape during fabrication using laser ablation. Second, the fundamentals of the biological method are comprehensively discussed, involving the synthesis principle and the process of controlling the size and shape and preparing Au/Ag NPs using biological methods. Third, the applications in biology, tumor diagnosis and treatment, and other fields are reviewed to demonstrate the potential value of Au/Ag NPs. Finally, a discussion surrounding three aspects (similarity, individuality, and complementarity) of the two green synthesis processes is presented, and the necessary outlook, including the current limitations and challenges, is suggested, which provides a reference for the low-cost and sustainable production of Au/Ag NPs in the future. [ABSTRACT FROM AUTHOR]