This report describes synthesis of a new ligand (E)‐N‐(4‐(benzo[d]thiazol‐2‐yl)phenyl)‐1‐(quinolin‐2‐yl)methanimine (L1) and its three ruthenium(II) arene complexes with [RuCl2(p‐cymene)]2 (C1), [RuCl2(benzene)]2 (C2), and [RuCl2(hmb)]2 [hmb = hexamethylbenzene] (C3). The new ligand and complexes were characterized with the help of standard spectroscopic and analytical techniques like 1H and 13C{1H} Nuclear Magnetic Resonance (NMR), Fourier transform infrared (FTIR), High‐resolution mass spectrometry (HRMS), UV‐Visible, cyclic voltammetry, and elemental analysis. The structure of ruthenium complex (C1) and its binding mode with ligand were authenticated with the help of single crystal X‐ray diffraction. The ruthenium arene complexes (C1‐C3) were used as a catalyst for the α‐olefination of Methylazaarenes. First, methylazaarenes were reacted with alcohols under optimized reaction conditions to produce α‐olefinated products (up to 66%) selectively. Among the three ruthenium complexes, C1 demonstrated the highest yield of olefinated products with 5 mol% catalyst loading. Finally, selected olefin derivatives were tested for their inhibitory potential towards the aggregation of amyloid‐b‐40 (Aβ40) peptide relevant to Alzheimer’s disease. Overall, these complexes are promising catalysts for organic transformations, and the synthesized α‐olefinated derivatives could have potential applications for the development of therapeutic agents for Alzheimer’s disease.