In the present work, a new magnetic nanoparticle supported N-heterocyclic carbene-palladium(ii) (NO2-NHC-Pd@Fe3O4) nanomagnetic catalyst was synthesized by a facile multistep synthesis under aerobic conditions using inexpensive chemicals. The NO2-NHC-Pd@Fe3O4 nanomagnetic catalyst was characterized by various analytical techniques such as attenuated total reflectance infrared spectroscopy (ATR-IR), inductively coupled plasma-atomic emission spectroscopy (ICP-AES), energy-dispersive X-ray spectroscopy (EDS), field-emission scanning electron microscopy (FESEM), transmission electron microscopy (TEM), X-ray powder diffraction (XRD), thermogravimetric analysis (TGA) and Brunauer-Emmett-Teller surface area analysis (BET). The synthesized NO2-NHC-Pd@Fe3O4 nanomagnetic catalyst showed excellent catalytic activity in both Suzuki-Miyaura and Mizoroki-Heck cross-coupling reactions for various substrates under mild reaction conditions. Recovery of the NO2-NHC-Pd@Fe3O4 nanomagnetic catalyst from the reaction mixture was easily accomplished by applying an external magnet. The recovered NO2-NHC-Pd@Fe3O4 nanomagnetic catalyst exhibited very good catalytic activity up to seven recycles in Suzuki-Miyaura and five recycles in Mizoroki-Heck cross-coupling reactions without considerable loss of its catalytic activity.