Palladium is immobilized on modified magnetic nanoparticles via coordination with organic tags, characterized and is used as a highly effective and versatile catalyst for Mizoroki-Heck reaction. The structure of this novel hybrid catalyst is confirmed by Fourier transform infrared, energy-dispersive (EDS), X-ray diffraction, transmission and scanning electron microscopy, ICP/OES, vibrating sample magnetometry and thermogravimetric analysis techniques. A wide range of substrates was coupled successfully under aerobic condition and good yields. Furthermore, this catalyst can be easily recovered by using a magnetic field and directly reused for at least six cycles without significant loss of its activity.