The advent of nanotechnology has enabled widespread applications in fields such as medicine and energy. However, nanotechnological techniques also raise concerns, including toxicity, environmental persistence, high energy demands during synthesis, and increased production costs. These challenges have encouraged and supported interest in green nanotechnology, an approach that integrates the principles of green chemistry and sustainable practices into the design, production, and application of nanomaterials. Green nanotechnology emphasizes the use of environmentally friendly systems such as plants and microorganisms for nanomaterial synthesis. These biological systems are energy-efficient and significantly reduce toxic impacts. This study highlights the advantages of green nanotechnology over conventional nanotechnology from both environmental and economical perspectives. From an environmental standpoint, green nano technology minimizes hazardous waste generation and enhances biodegradability, thereby reducing long-term ecological damage. Economically, it can lower costs by managing resources efficiently, reducing the number of processing steps, using versatile feedstocks, and the creation of new opportunities for sustainable industrial applications. The study suggests that the transition from conventional nanotechnology to green nanotechnology not only addresses environmental sustainability but also encourages economic viability, paving the way for future innovations. This evaluation highlights the urgent need for collaborative research, industry–academia collaborations, and supportive policy frameworks to accelerate the adoption of environmentally responsible nanotechnological solutions.