Conversion of micro lignin to lignin nanoparticles (LNP) and their application in engineering and technology is a potential step towards global sustainability because lignin obtained from industrial and agricultural waste, and green chemistry stimulate their utilization. Present work reports the high yield synthesis of lignin nanoparticle in different media i.e. castor oil (CO), ethylene glycol (EG) and water and evaluates their effect on size and morphology. Syntheses of LNP cover 9 out of 12 green chemistry principals; synthesis was carried out via acid precipitation in polyol medium which acts as a stabilizing agent. From the results of the TEM, DLS, SEM, studies it was observed that ≈15-20 nm LNP were successfully formed and spherical morphologies were observed in case of EG and CO. Further, anticorrosive behaviour of these nanoparticles was evaluated, LNP act as anticorrosive nanofillers for carbon steel (CS) protection in stringent corrosive conditions and was dispersed in epoxy matrix to formulate epoxy nanocomposite coatings. Physicomechanical and electrochemical impedance spectroscopy (EIS) studies suggest that LNP dispersed epoxy coatings potentially protect the underlying materials and show better protection as compared to the epoxy coatings.