In this work, Pd−Ni alloy nanoparticles (NPs) were produced by a facile and efficient one-pot synthetic strategy in the presence of oleylamine (OAm) and triphenylphosphine (TPP). Transmission electron microscopy (TEM), energy-dispersive spectrometry (EDS) mapping, inductively coupled plasma atomic emission spectroscopy (ICP-AES), and X-ray diffraction (XRD) were used to investigate the structure of Pd−Ni alloy NPs, which demonstrated that the as-prepared alloy NPs possessed uniform sizes and tunable compositions. Importantly, we found that TPP could affect the morphology of the Pd−Ni alloy. When TPP was absent from the reaction, the morphology of the Pd−Ni alloy was not uniform. In addition, the as-prepared Pd−Ni alloy NPs showed conspicuous composition-dependent catalytic activities for the Miyaura−Heck reaction. In the series of the Pd−Ni alloy NPs, Pd 1 Ni 1 has an excellent effect for the Miyaura−Heck reactions. Furthermore, the Pd−Ni alloy NPs were also effective for different substrates in the Miyaura−Heck reactions. Compared to pure palladium, the Pd−Ni alloy NPs as the catalysts show better catalytic activity, selectivity, and stability.