The mischmetall/[SmI2/Pd0cat.′]cat. system has been used to mediate the allylation of ketones using a variety of allylic esters (acetates, carbonates and phosphates). Thus, a “two‐stage catalysis” has been carried out using SmI2 and Pd(PPh3)4 in catalytic amounts together with mischmetall (an alloy of the light lanthanides) as a co‐reductant. A catalytic scheme that takes into account previously reported reactions of SmI2/Pd0cat. and mischmetall/SmI2,cat. systems is proposed. It has also been shown that palladium complexes catalyse the addition of organolanthanide species to ketones. (© Wiley‐VCH Verlag GmbH & Co. KGaA, 69451 Weinheim, Germany, 2005)