Nanotechnology is a field that is burgeoning day by day making an impact in all of human life. Nanotechnology is emerging as a rapidly growing field with its application in science and technology for the purpose of manufacturing new materials at the nanoscale level. The present study deals with the synthesis of silver nanoparticles using actinomycetes isolated from soil. Single colonies were further subjected for the molecular identification. The DNA was isolated and amplified with 16S RNA primers. The gene sequencing was performed for the DNA and identification streptomyces sp. The silver nanoparticle was synthesis using 1mM silver nitrate. The nanoparticles were characterized using UV-Visible study and FTIR the plasmon peak was observed at 430nm confirmed the silver nanoparticle synthesis. SEM was done and the nanoparticle size was measured and found that the size in the same at 60nm to 110nm under 7500X magnification. The antibacterial activity was done against bacteria. The zone of inhibition was maximum against E.coli and K. Pneumoniae. The synthesized of nanoparticles were further conjugated with drug Ampicillin (500mg/ml). The anticancer activity was also carried out on He La cell, MTT was done and the cell death was calculated.