In this study, a magnetically reusable artificial metalloenzyme has been constructed by co-immobilization of palladium nanoparticles as a strong oxidizing catalyst and laccase as an oxygen-activating enzyme into the cavities of magnetic mesocellular foams silica (Pd-Laccase@MMCF). The combination of Pd- Laccase@MMCF and hydroquinone (HQ) act as electron-transfer mediator system and make stepwise electron transfer from substrate to molecular oxygen. This catalyst system was used for the aerobic (i) oxidation of alcohols to the corresponding carbonyl compounds and (ii) dehydrogenation of 2-substituted-2,3-dihydroquinazolin-4(1H)-ones in phosphate buffer (0.1 M, pH 4.5, 4 mL)/THF (4%, 1 mL) as solvent under mild conditions. The coimmobilization of both laccase and Pd onto high surface area mesoporous support, high catalytic activity and magnetically separable and reusable make the present catalyst system superior to other currently available electron-transfer mediator systems.