Bi-Metallic Nanoparticles (BMNPs) have been extensively researched for applications in various fields of Nano-engineering, Nano-medicine, and Nano-biotechnology. Methods used in synthesizing them (top-down and bottom-up) have also been vastly explored. From the past reviews, extensive usage of chemical approaches (such as Sol-Gel, polymer precursor, micro-emulsion, hydrothermal, sonochemical, etc.) has been reported. However, by usage of pre-cursors, harmful and toxic chemical agents, longer reaction time, there is a limited or no contribution towards green environment. Producing BMNPs at a commercial scale in such a scenario would have detrimental effects which are still un-realized. Also, some of the biomedical applications, demand usage of pure and stable nanoparticles Therefore, the need immediately arises to opt for a greener synthesis method. One such available physical approach Laser-assisted synthesis (LASIS) gives effective control, as well as stable, pure BMNPs, is obtained. This review focuses on the recent work done in Laser-assisted synthesis of BMNPs with a focus on their properties and different nanostructures formed using this technique for bio-imaging, anticancer, and drug delivery applications and thereby its contribution in being an environment-friendly and green technology.