In this study, silver nanoparticles (AgNPs) have been synthesized using the aqueous extract of the aerial parts of B. purpurocaerulea, collected in Serbia. B. purpurocaerulea silver nanoparticles (Bp– AgNPs) synthesis was confirmed using UV-Vis spectroscopy and Fourier Transform Infrared Spectroscopy (FTIR). The biological potential of synthesized Bp-AgNPs was evaluated in vitro using ABTS assay for determining free radical scavenging potential and microdilution method for analysis of antimicrobial properties. Bp-AgNPs showed high antioxidant activity similar to Bp-extract, comparable to BHT. The synthesized nanoparticles exerted remarkable antibacterial effects, with minimal inhibitory concentration (MIC) values below 20 µg/mL. In the case of some bacterial strains, the results of Bp– AgNPs were comparable or similar to standard antibiotic erythromycin. The antifungal activity of Bp– AgNPs was moderate for most of the used strains. Nevertheless, several fungi were resistant to the NPs action, while two tested Penicillium species were extremely sensitive on Bp-AgNPs with MIC lower than 40 µg/mL. The antimicrobial properties of Bp-AgNPs can be useful for the development of new NPs-containing products.