This study was aimed at developing a simple, eco-friendly and cost effective green chemistry method for the synthesis of bimetallic Au-Ag nanoparticles using Ocimum basilicum aqueous leaf and flower extracts, respectively as the natural reducing agents. The successive reduction of chloroauric acid and silver nitrate led to the formation of Au-Ag nanoparticles within 10 min at room temperature, suggesting a higher reaction rate than chemical methods involved in the synthesis. Stable, spherical nanoparticles with well-defined dimensions of average size of 3-25 nm was confirmed by UV-Visible spectroscopy, TEM, SEM-EDX, DLS, and zeta potential, whilst, FTIR in combination with GC-MS analyzed the functional groups adhered to the surface of the nanoparticles The colloidal suspension displayed enhanced antihyperglycemic activity at 69.97 ± 3.42% (leaf) against α-amylase (from porcine) and at 85.77 ± 5.82% (flower) against Bacillus stearothermophilus α-glucosidase than that of acarbose and their respective crude extracts. Furthermore, revealed good antibacterial activity against bacterial species Staphylococcus aureus, Escherichia coli, Bacillus subtilis and Pseudomonas aeruginosa.