The production of silver nanoparticles (Ag-NPs) from bilberry waste (BW) and red currant waste (RCW) extracts was studied. Red fruit extracts were obtained by treating BW and RCW with aqueous ethanol (50% v/v) at 40 °C. The formation of nanoparticles was monitored spectrophotometrically by measuring the intensity of the surface plasmon resonance band (SPR) of silver. The effects of temperature (20–60 °C) and pH (8–12) on the reaction kinetics and on the properties of Ag-NPs were investigated. Characterization by XRD and dynamic light scattering (DLS) techniques showed that Ag-NPs were highly crystalline, with a face-centered cubic structure and a hydrodynamic diameter of 25–65 nm. The zeta potential was in the range of −35.6 to −20.5 mV. Nanoparticles obtained from BW were slightly smaller and more stable than those from RCW. A kinetic analysis by the initial-rate method showed that there was an optimum pH, around 11, for the production of Ag-NPs. Overall, the results obtained suggest that BW and RCW can be advantageously used as a source of reducing and stabilizing agents for the green synthesis of Ag-NPs.