In this study, a new nitrogen-enriched multiwall carbon nanotube is prepared and utilized to stabilize palladium species. After the characterization of this new composite, it was applied as a catalyst in the reduction of nitroarenes and hydrodesulfurization of dibenzothiophene. Using this newly established catalyst, a wide range of aromatic compounds were reduced to the corresponding amines under a very low amount of Pd (0.005 mol%) in short reaction times. Also, dibenzothiophene (a major pollutant in fuel oil) was very efficiently transformed using this catalyst. Its robustness was studied in the recycling process where, after 20 runs in the reduction of 4-nitrotoluene and 5 times in the desulfurization of dibenzothiophene, the activity of the catalyst remained intact. According to the E-factor calculations, the present Pd catalyst meets the standards of green chemistry.