A facile procedure was applied to successfully synthesize novel Pd nanoparticles immobilized on triethanolamine- functionalized magnetic nanoparticles [Fe3O4/IL/Pd]. Diverse characterizations (HR-TEM, XRD, FT-IR, TGA, EDX, FE-SEM, ICP, XPS and VSM) were carried out to identify intrinsic traits of the nanoparticles. At room temperature, Fe3O4/IL/Pd demonstrated high catalytic activity toward Suzuki-Miyaura cross-coupling reactions in aqueous solution. Based on the results, Fe3O4/IL/Pd acted as zwitterionic IL-type heterogeneous catalyst, which could be separated from the reaction mixture, conveniently. Moreover, it exhibited excellent recyclability for at least eight cycles without considerable loss of its activity.