Silver nanoparticles (AgNPs) have been synthesized under the synergistic action ofnovel ionic liquid 1-N-(ferrocenylmethyl)-3-octylimidazolium bromide (FcMeOIMIBr)along with Launaea Oleracea(Sarmentosa) leaf extract. The synthesized AgNPs were confirmed by the change in colour of leaf extract and with the help of UV-visabsorbance spectra. The typical absorption peak at 437nm indicates that there are AgNPs.The synthesized AgNPs were optimized by all the reaction parameters like concentration of salt solution of silver, pH of the extract, extract and precursor ratio, temperature of the reaction and time of the reaction. The powdered AgNPs were characterized by DLS, XRD, FTIR, TEM, and EDAX in order to study their size, morphology, crystalline nature and elemental composition. The synthesized nanoparticles were evaluated for their potential biological applicationsand found to display promising antibacterial, antifungal and antioxidant activity