This study reports the synthesis and characterization of an environmentally friendly, cost‐effective, and sustainable Pd‐heterogeneous catalyst anchored on superparamagnetic silica‐coated iron oxide. The synthesized Pd‐SB/MNP nanomagnetic catalyst was extensively characterized using Fourier transform infrared (FTIR), inductively coupled plasma optical emission spectroscopy (ICP‐OES), X‐ray photoelectron spectroscopy (XPS), X‐ray diffraction (XRD), energy‐dispersive spectrometry (EDS), vibrating sample magnetometry (VSM), field emission scanning electron microscopy (FE‐SEM), thermogravimetric analysis (TGA), Brunauer–Emmett–Teller (BET), and high‐resolution transmission electron microscopy (HR‐TEM). The Pd‐SB/MNP catalyst showed remarkable efficiency in catalyzing the reduction of nitroarene and Cr(VI) under mild reaction conditions using an eco‐friendly solvent. The catalyst exhibits facile recovery through external magnetization, enabling its efficient recycling and reutilization for at least 10 cycles while demonstrating minimal Pd loss, as confirmed by rigorous hot filtration testing and ICP‐OES analysis. These results comply with the industry's prescribed thresholds for permissible levels of residual metallic content. The results suggest that the synthesized Pd‐SB/MNP catalyst holds great potential for various industrial applications.