A new and efficient nanoparticle–N‐heterocyclic carbene–palladium complex was synthesized and characterized using Fourier transform infrared spectroscopy, thermogravimetric analysis, field emission scanning electron microscopy, energy‐dispersive X‐ray analysis, X‐ray diffraction, transmission electron microscopy, elemental analysis, inductively coupled plasma analysis and vibrating sample magnetometry. This catalytic system was found to be a highly active catalyst in the Mizoroki–Heck and Suzuki–Miyaura cross‐coupling reactions. These reactions were best performed in dimethylformamide and water, respectively, in the presence of only 0.054 mol% of palladium under mild conditions. Moreover, the catalyst could be recovered easily and reused at least ten times without any considerable loss of its catalytic activity. Copyright © 2016 John Wiley & Sons, Ltd.