Palladium nanoparticles have been evaluated as a viable candidate in the realm of biological applications due to their unique features. Saussurea costus extract was used as a stabilizing and reducing agent for the synthesis of palladium nanoparticles with average grain size of 17.6 ± 1.2 nm. The synthesized PdNPs were evaluated for their antioxidant activity, anti Alzheimer's activity, antibacterial and anticancer activities. The nanocharacterization was carried out using different spectroscopic techniques, including UV–visible spectroscopy, Transmission Electron Microscopy, Fourier Transformed Infrared spectroscopy, X-ray Diffraction analysis, X-ray Photoelectron spectroscopy, Energy Dispersive X-ray Spectroscopy, Size distribution, and Zeta potential. The characterization data explained the PdNPs mediated by S.costus extract have spherical form and are disseminated without agglomeration. FTIR and XPS supported the hypotheisis that the biomolecules of S.costus are activing as a reducing and stabilizing agents. The antioxidant activity of PdNPs was assessed using a free radical scavenging assay (DPPH) which exhibited similar results to the ABTS assay i.e. 90 μg/mL IC50 value. Moreover Alzheimer's disease can easily be inhibited by S.costus@PdNPs at 400 mg/mL, with 79.23 ± 1.11 % of inhibition rate against AChE and 76.13 ± 0.43 % towards BChE. S.costus@PdNPs showed comparatively greater antibacterial activity against all four Staphylococcus aureus, Bacillus subtilis Escherichia coli and Pseudomonas aeruginosa microorganisms. Supplementary research carried out on the anti-tumor effects of the generated PdNPs using the colon cancer (HCT-116), hepatocellular carcinoma (HepG2), and breast adenocarcinoma (MCF-7) cell lines. PdNPs showed potent anticancerous activity against all the cell lines. Thus we recommend S.costus@PdNPs as a thearapeutic agent after successful clinical trails in future.