Hydrogen reduction of an Ir(I) complex featured by a bulky N-heterocyclic carbene (NHC) ligand in dichloromethane gave small-sized (1.8 nm) Ir nanoparticles (NPs) decorated with NHC ligands (Ir NHC). 1,4-Dioxane solutions of the latter particles were successfully applied to convert glycerol into lactic acid in the presence of NaOH (i.e. 1 mol equivalent with respect to glycerol). Ir NHC showed an atom-related TOF value of almost 10 4 h À1 , an almost exclusive formation of liquid reaction products, a high selectivity for lactic acid (93.0%) and a complete recyclability in air atmosphere. Attempts to synthesize analogous NHC-stabilized Ir NPs on a high surface area carbon support (C K) by reducing the same Ir(I) precursor, supported onto C K , prior to the hydrogen reduction in water, gave almost naked C K-supported Ir NPs (1.4 nm). Their catalytic activity tested for the same reaction in water as reaction medium, exhibited much lower catalytic activity (4 Â 10 3 h À1), a lower percentage of liquid reaction products (i.e. 27.0% of the converted glycerol) and a lower selectivity for lactic acid compared to Ir NHC .