It is shown that doping of a Pd cluster by Ag atoms can provide an efficient catalyst for the Suzuki–Miyaura cross-coupling reactions. We demonstrate this intriguing possibility by considering a model reaction involving bromobenzene and phenylboronic acid as reagents where the reaction involves oxidation, transmetallation, and reduction steps. We have examined the reaction barriers of all three steps for a conventional ligated Pd catalyst, a nearly icosahedral Pd13 cluster, and a monosilver-doped Pd12Ag cluster using gradient-corrected density functional theory. It is observed that the reaction carried out on the Pd sites adjacent to an Ag atom in a Pd12Ag cluster shows substantially lower barriers for the oxidation and reduction steps compared to the conventional ligated Pd catalyst and the pure Pd13 cluster. A detailed analysis indicates that the Ag site donates charge to the neighboring Pd site. While such a donation may have been expected to reduce the barrier for the oxidative step, the lowering of the barrier for the reduction step indicates that the respective sites not only act as a donor but can also serve as an acceptor for the reduction step. Furthermore, because of the differential donor–acceptor characteristic of the Ag and Pd atoms, it is observed that the barrier heights of the redox steps are primarily dependent on the chosen active site. The calculated results show that by altering the atom (Ag or Pd) at the active site of the reaction, the activation energies of the redox steps can either be reduced or increased. This shows that the active sites of a bimetallic cluster-like Pd12Ag can be utilized to control the barrier heights of suitable chemical reactions. The relative trend of the barrier heights for both clusters is also observed to be predictable by the conceptual density functional theory. Previous studies in our group have indicated that the reaction barriers for Pdn clusters can be lowered by supporting them on reduced graphene. We, therefore, propose that silver-doped Pdn clusters may provide an even better catalyst.