A novel series of stable phosphine/arsine-free Schiff base Pd(II) complexes (1–3) was synthesized and investigated using a variety of spectroscopic techniques and single crystal X-ray crystallography. A square-planar distortion was observed in all complexes centering on the Pd(II) ion. The isolated complexes (1–3) were used as catalysts for the Suzuki cross-coupling reactions in water/ethanol and water medium, resulting in good to excellent yields of the products even with a little loading of the catalyst. This methodology has the potential to be extended further to develop novel antimicrobial drugs, which can be further used in the treatment of infectious diseases.