N-heterocyclic carbene palladium magnetic nanomaterial has been fabricated by complexing Pd (II) to the surface of the Fe3O4 modified with N-heterocyclic carbene. Successful synthesis has been verified by TEM, EDX, FT-IR, XRD, XPS, AAS, TGA and VSM. The composites were then applied to Suzuki coupling reaction. To select a highly efficient and environment-friendly reaction strategy, mixed solvent of ethanol and water ethanol (1:1) were used as the reaction solvent. The catalyst exhibits excellent performance, and most of the substrates can obtain high yields at low reaction temperature and short reaction time. In addition, due to the excellent magnetic properties of the catalyst, it can be recycled by simple magnetic separation and washing. It remains also a good reaction yield after ten times of repeated use.