Two palladium Schiff base complexes supported on magnetic nanoparticles, namely, P,N-Pd-Fe3O4 and CPS-MNPs-NNN-Pd, were successfully used as efficient heterogeneous catalysts for the Suzuki coupling reaction under mild and green conditions. We compared the catalytic activity of these two catalysts and the results indicated that the CPS-MNPs-NNN-Pd catalyst promoted the reaction more efficiently due to its structure. Only 0.1 mol% of CPS-MNPs-NNN-Pd catalyst was required to promote the Suzuki reactions and these reactions were performed efficiently for aryl iodides, bromides, and also chlorides. Notably, this catalyst had higher TON and TOF numbers than most of the previously reported catalysts. Moreover, the catalyst could be easily separated from the reaction mixture under the outer or external magnetic field and reused at least for 4 times without appreciable loss of its catalytic activity.