A new Pd(II) complex, [Pd(PPh3)(L)] (L = 1,5-bis(2-hydroxybenzylidene)thiocarbohydrazone, PPh3 = triphenylphosphine), was synthesized and characterized by FTIR, 1H NMR and UV-Vis spectroscopies and elemental analysis. The molecular structure of [Pd(PPh3)(L)] was confirmed by the single-crystal X-ray diffraction technique. Palladium ion has distorted square planar geometry according to X-ray diffraction studies. The free thiocarbohydrazone (L), potentially a pentadentate ONSNO donor, acted as a tridentate ONS donor. The antioxidant capacity of the free thiocarbohydrazone and Pd(II) complex was determined using the CUPRAC (cupric reducing antioxidant capacity) method. Also, the DPPH method was used to test the free radical scavenging activity of the free thiocarbohydrazone and Pd(II) complex. Antioxidant activity studies showed that free thiocarbohydrazone exhibited better activity than Pd(II) complex.