Silver nanoparticles were grown in self-assembled amphiphilic poly(ethylene oxide)/poly(propylene oxide) (PEO/PPO) triblock copolymers in selective solvents. Ternary systems of block copolymer, water, and p-xylene were used, forming a dispersion of water droplets in oil (reverse micellar) as well as binary water/block copolymer solutions. Besides its stabilizing affect, the role of the copolymer as a reducing agent for the metal salt precursors was examined. It was found that block copolymer-enabled reduction, carried out mainly by the PEO blocks, could take place only under particular conditions mostly related to the metal precursor, the block copolymer concentration, and the self-assembled micellar configuration. The effect of the triblock copolymers on growth and stabilization of gold nanoparticles was also examined. The antibacterial effect of the silver nanoparticles was investigated against Escherichia coli cells, and their performance was evaluated through a series of parametrization experiments, including the effect of the metal concentration, stability, activity over time, and dosage, while particular emphasis was given on the role of ions versus nanoparticles on the antibacterial performance.