Ammonia borane with both hydridic and protic hydrogens in its structure acted as an efficient transfer hydrogenation agent for selective transformation of alkynes into alkenes in non-protic solvents. Catalytic synergy between the μ3-OH groups of the UiO-66(Hf) MOF and Pd active sites in Pd/UiO-66(Hf) furnished an elusive >98% styrene selectivity and full phenylacetylene conversion at room temperature. Such performance is not achievable by a Pd + UiO-66(Hf) physical mixture or by a commercial Pd/C catalyst.