The relevance of aryl amines as raw materials for a variety of applications has prompted substantial research into developing highly efficient protocols for hazardous nitroarenes reduction. To that end, a new sustainable and heterogeneous palladium nanocatalyst was fabricated by immobilization of PdNPs on the new magntic support composed of carboxymethyl-imidazolium ionic liquid-grafted chitosan Schiff base and magnetic graphene oxide (CMICSB-MGO) nanocomposites. The spectral, thermal, and microscopic analyses results revealed the successful formation of the magnetic support and nanocatalyst. The activity of the new nanocatalyst (CMICSB-MGO-Pd) in the catalytic reduction of hazardous nitroarenes to convert them into valuable aminoarenes was studied. The findings demonstrated that the new nanocatalyst has excellent catalytic activity, superior recoverability, as well as outstanding reusability under very mild reaction conditions. Moreover, this nanocatalyst can be recycled up to 8 catalytic runs, without significant loss in its efficacy or Pd leaching. Thus, the new magnetic support and nanocatalyst are more eco-friendly and sustainable choices for large-scale use and could pave the way for developing other metal-based catalysts for versatile applications in the future.