Mg-Al hydrotalcite (HT), comprising Mg2+ and Al3+ as layered hydroxide cations, was synthesized via a hydrothermal process at 200 °C. The HT was evaluated as a carrier, and subsequently, palladium was immobilized on the surface of the hydrotalcite (HT/NC), resulting in the development of an innovative biomass-based palladium catalyst. The catalyst underwent analysis by X-ray diffraction (XRD), scanning electron microscopy (SEM), and X-ray photoelectron spectroscopy (XPS). It exhibited remarkable catalytic efficiency and superior activity as a catalyst in the Suzuki–Miyaura coupling reaction in water. The catalyst was recyclable without a decline in activity and could be utilized more than 10 times, with exceptional yield. Furthermore, the commercially accessible anticancer drug Elacestrant can be readily produced using this protocol.