Supported liquid phase catalysts (SLPC) containing water-soluble Pd complexes were used for hydrogenation of stilbene in toluene. When water is loaded on a silica gel support, the catalytic activity of SLPC increases with the amount of the water. In contrast, when ethylene glycol (EG) is used as the supported liquid, the activity does not depend on the amount of EG loaded. These results can be explained by differences in the mode of dispersion of the supported liquids over the support.