The semihydrogenation of phenylacetylene to styrene represents an important process for optimizing the polystyrene production and also a model reaction for the evaluation of selective hydrogenation catalysts. Although the alloying strategy and surface engineering for noble metal (particularly for Pd) catalysts can effectively inhibit the overhydrogenation of styrene, the selectivity of phenylacetylene semihydrogenation to styrene is generally below 95% near the full conversion. Here, we demonstrate the electronic modulation of Pd-based bimetallic nanocluster catalysts based on the strong metal-support interactions for improving the catalytic selectivity for phenylacetylene semihydrogenation. A series of Pd-M (M = Fe, Co, Ni, Cu, Ga) bimetallic nanoclusters of similar to 2 nm are immobilized on mesoporous sulfur-doped carbon (meso_S-C) supports, which exhibit a high selectivity of >97% for the semihydrogenation of phenylacetylene to styrene. The strong interaction between metal and the meso_S-C supports enables the modulation of electronic structure of the bimetallic nanoparticles and thus leads to the selectivity enhancement for the phenylacetylene semihydrogenation.