In this content, a green approach for the ultrasound promoted in situ immobilization of Pd NPs over biodegradable chitosan/agarose modified ferrite NP (Fe3O4@CS-Agarose/Pd) is developed. The structural and physicochemical features of the material were estimated using advanced analytical techniques like FT-IR, ICP-OES, FESEM, EDS, XRD, TEMand VSM. Themagneticmaterialwas catalytically explored in the oxidation of alcohols under ultrasonic waves. Sonication had a significant role in enhancing the catalytic performance in the alcohol's oxidation as compared to conventional heating. The heterogeneous nanocatalyst was efficiently recycled up to 10 times with nominal loss in catalytic activity. Towards the biological applications, the Fe3O4@CS-Agarose/Pd nanocomposite showed high antioxidant activities against DPPH free radicals, comparable to standard butylated hydroxytoluene (BHT). In addition, it exhibited excellent cytotoxicity in terms of % cell viability against breast adenocarcinoma (MCF7), breast carcinoma (Hs 578Bst), infiltrating ductal cell carcinoma (Hs 319.T), and metastatic carcinoma (MDA-MB- 453) cell lines. The best anti-breast cancer potential of the nanocomposite was observed in Hs 319.T cell line.