A promising approach to the controlled synthesis of supported nanoparticles involves the use of molecular carbonyl clusters as precursors. Molecular metal clusters consist of a defined number of structurally ordered atoms, and active monodisperse metal particles are formed after dispersing the molecules and removing the ligands. An octanuclear palladium cluster precursor with easily displaceable ligands was used to generate palladium nanoparticles on mesoporous MCM-41. The molecular cluster precursor, [Pd8(CO)8(PMe3)7], was directly adsorbed from solution onto MCM-41, followed by gentle thermolysis which yielded small metal nanoparticles. Compared to MCM-41-based catalysts prepared from palladium salts by conventional methods, this cluster-derived palladium catalyst has shown an efficient activity for liquid-phase hydrogenation of alkenes.