A novel heterogeneous catalyst based on palladium nanoparticles supported on 3,3′-bisindolyl(4-hydroxyphenyl)methane functionalized magnetite (Fe3O4) nanoparticles was synthesized, characterized and used as catalyst for Sonogashira-Hagihara reaction. The alkynylation of a variety of aryl iodides and aryl bromides with terminal alkynes was carried out at 60°C under copper and phosphane-free conditions using N,N-dimethyl acetamide as solvent, DABCO as base and low Pd loadings (0.18 mol%) under air. In the case of aryl chlorides, the reaction was carried out at 120°C in the presence of tetra-n-butylammonium bromide (TBAB) and 0.36 mol% of Pd catalyst. The heterogeneous palladium catalyst introduced in this study is recoverable by an external magnet and it can be used for seven consecutive runs without a significant loss in catalytic activity.