One of the routes to overcome the high instability of metal nanoparticles (MNPs) lies in the use of polymeric materials for their synthesis and stabilization. Besides, one of the most serious concerns associated with the growing production and use of MNPs is the possibility of their uncontrollable escape into the medium under treatment and the environment. A possible solution to this problem could be the synthesis of ferromagnetic MNPs with desired functionality, that might not only prevent their escape by using simple magnetic traps but also allow their recovery and reuse. In our work we report the results obtained by the development of environmentally-safe polymer-metal nanocomposite materials containing polymer-stabilized MNPs (PSMNPs) with properties. This material consists of a functional polymer with immobilized Pd@Co core-shell PSMNPs distributed mainly near the surface of the polymer which makes PSMNPs maximally accessible for reagents in catalytic applications. The material was characterized by different techniques to evaluate the total metal content, the size and the magnetic properties of MNPs and their distribution inside the polymer. All nanocomposites were tested as catalysts in Suzuki cross-coupling reactions between arylboronic acids and aryl halides to produce biphenyls as a reference reaction.