AbstractLiquid organic hydrogen carriers have emerged as promising hydrogen storage systems, offering notable advantages over conventional storage and utilization efficiency methods. However, designing a catalyst that operates at low temperatures and remains cost‐effective poses a significant challenge. We successfully synthesized Pd species (single atoms, fully exposed clusters, and nanoparticles) on a nanodiamond/graphene (ND@G) hybrid support for toluene hydrogenation. The structure of as‐developed Pd catalyst was investigated by HAADF‐STEM, X‐ray absorption fine structure, Raman, XRD, XPS, and other characterizations. Remarkably, the Pdn/ND@G catalyst achieved a toluene conversion rate of 99.3% (100°C, 2.0 MPa H2) without loss of catalytic ability after 5 runs, which exhibited excellent catalytic performance and stable activity. Furthermore, the Pdn/ND@G catalyst exhibited an apparent activation energy as low as 62.36 ± 3.33 kJ mol−1 and an initial turnover frequency of 33.1 h−1 at 100°C. By adjusting the size and metal‐dependent effects, we have achieved enhanced catalytic performance for toluene hydrogenation, thus paving the way for the design of efficient liquid organic hydrogen storage catalysts.