This work describes the preparation of palladium-based catalyst supported on magnetic chitosan (Pd@IO-Chitosan) for Suzuki Miyaura C-C coupling reaction. The Pd@IO-Chitosan catalyst was characterized using different spectroscopic and microscopic techniques such as Fourier transform infrared spectroscopy (FT-IR), transmission electron microscope (TEM), vibrating sample magnetometer (VSM), X-ray powder diffraction (XRD), X-ray Absorption Near Edge Structure (XANES) Spectroscopy and X-ray photoelectron spectroscopy (XPS). Pd@IO-Chitosan was further analysed by thermogravimetric analysis (TGA) in order to determine its thermal behavior. The catalyst comprised Pd, PdO species stabilised by chitosan that facilitated Suzuki coupling reactions. Palladium loading as low as 0.0055 mol% was found to be effective for aqueous Suzuki cross-couplings with excellent yields of over 99%. The catalyst could be recycled and reused at least 12 times with no significant decrease in its catalytic activity.