Platinum and palladium nanoparticles were successfully deposited on tunicate cellulose via the photodeposition or microemulsion deposition method. Evenly distributed, small and narrow‐sized particles in the range of 2‑3 nm were obtained for microemulsion‐prepared cellulose catalysts. The photodeposition method led to larger particle sizes, broader size distribution, and occasional agglomerations. The catalysts were tested in the allylbenzene hydrogenation reaction and the results were compared to commercially available catalysts. Because of smaller particles, both microemulsion‐prepared catalysts and photodeposited ones show better activity than commercial catalysts. Even platinum and palladium nanoparticles were active for the hydrogenation, only cellulose‐supported platinum nanoparticles showed good stability. For palladium nanoparticles, stronger leaching from the surface of cellulose was observed. Cellulose‐supported catalysts were recycled, and reusability is comparable to commercial catalysts. Therefore, cellulose could be used as an alternative catalyst support.