Localized surface plasmon resonance (LSPR) describes the collective oscillation of conductive electrons in noble metal nanostructures, such as gold, silver and copper; or in selected doped semiconductor nanocrystals. Nanoplasmonics is emerging as a useful and versatile platform that combines the intense and highly tunable optical responses derived from LSPR with the intriguing materials properties at the nanoscale, including high specific surface areas, surface and chemical reactivity, binding affinity, and rigidity. LSPRs in plasmonic nanoparticles (NPs) can provide large optical cross-sections, and can lead to a wide variety of subsequent photophysical responses, such as localization of electric (E-)fields, production of plasmonic hot charge carriers, photothermal heating, etc. Plasmonic NPs can also be combined with other molecular or nanoscale systems into plasmonic heterostructures to further harvest the resonant E-field enhancement or to prolong the lifetime of plasmonic charge carriers. In this dissertation, we study the photophysical properties of plasmonic Ag and Au NPs, particularly E-field localization and hot charge carrier production performances; and illustrate how they can be optimized towards plasmonic photocatalysis, development of nano-antimicrobials, and surface-enhanced Raman spectroscopy (SERS) sensing. We demonstrate that with a lipid-coated noble metal nanoparticle (L-NP) model, the E-field localization properties could be optimized through positioning molecular photosensitizers or photocatalysts within a plasmonic “sweet spot”. This factor renders the plasmonic metal NPs efficient nanoantenna for resonant enhancement of the intramolecular transitions as well as the photocatalytic properties of the molecular photocatalysts. The enhanced photoreactivity have been applied to facilitate fuel cell half reactions for the enhancement of light energy conversion efficiencies; as well as to facilitate the release of broad-band bactericidal compounds that enables plasmonic nano-antimicrobials. Localized E-fields in L-NPs also enhance the inelastic scattering from molecules through SERS. This is utilized to obtain molecular-level information on the configuration of sterol-based, alkyne-containing Raman tags in hybrid lipid membranes, which enables spectroscopic sensing and targeted imaging of biomarker-overexpressing cancer cells at the single-cell level. In contrast to the localized E-field, plasmonic charge carrier generation mechanism relies on non-radiative decay pathways of the excited plasmons that lead to production of ballistic charge carriers. The plasmonic hot charge carriers directly participate in chemical redox processes with degrees of controllability over the nature of the charge carrier produced and direction of their transfers. The implementation and optimization of these mechanisms are explored, and the significances of some relevant applications are discussed.