AbstractNew water soluble neutral and cationic palladium complexes were synthesized using 8‐aminoquinoline (8‐AQ) and 2‐methyl 8‐aminoquinoline (2‐Me 8‐AQ) ligands and their catalytic properties were evaluated. The neutral trimeric complexes having a Pd3N3 core were found to form when Pd(OAc)2 was reacted with 8‐AQ or 2‐Me 8‐AQ irrespective of the stoichiometry between the 2 reagents. Controlled addition of triflic acid to the neutral trimeric complex resulted in the formation of a trimeric cationic palladium complex as well as a monomeric cationic complex. A cationic palladium complex having two units of 2‐Me‐8AQ ligand was also synthesized from the cationic monomeric complex. Crystal structures of the new palladium complexes are reported in this study. The water‐soluble neutral palladium complex showed catalytic activity for the oxidation of benzyl alcohols to benzaldehydes, while the cationic palladium complexes were found to be efficient catalysts for the oxidation of styrenes to methyl ketones.