A Pd supported on 3, 4-dihydroxypyridine (Py)-functionalized Fe3O4 (Fe3O4/Py/Pd) hybrid materials has been synthesized for the first time. The catalyst exhibited very high activity for Suzuki coupling reaction of several aryl halides with phenylboronic acid in aqueous phase at room temperature. The yields of the products were in the range from 70% to 98%. In this process, the novel catalyst could be recovered in a facile manner from the reaction mixture by applying an external magnet device and reused more than eight times without any significant loss in activity.