The synthesis, spectroscopic characterization, and catalytic activities of a series of PdII complexes bearing the monoanionic, bidentate ligand 2‐(2‐thiophenyl)‐4,4‐dimethyloxazoline (S‐Phoz) are reported. These complexes were used as precatalysts for Suzuki–Miyaura coupling reactions under aqueous conditions. The dimers [{PdX(S‐Phoz)}2] (X = Cl, Br, I; 1–3) were treated with the N‐heterocyclic carbene (NHC) ligand 1,3‐bis(2,4,6‐trimethylphenyl)imidazol‐2‐ylidene (IMes) to afford the mononuclear complexes [PdX(S‐Phoz)(IMes)] (X = Cl, Br, I; 4–6). The σ‐donor/π‐acceptor complexes [PdCl(S‐Phoz)(EPh3)] (E = P, As, Sb; 7–9) were synthesized to evaluate the influence of a second donor ligand on the catalytic activity. Within the [PdCl(S‐Phoz)L] series, the activity trend for L follows the trend PPh3 > IMes ≈ AsPh3 > SbPh3. The sulfur‐bridged dinuclear complexes 1–3 are highly active for the benchmark coupling of p‐bromoacetophenone with phenylboronic acid and exhibit turnover frequencies (TOFs) of up to 16000 h–1. DFT and G0W0 calculations were performed to rationalize the facile reduction and, hence, excellent activities of the dinuclear complexes.