Kinetics of Pd (core)-Au (shell) nanoparticles (NPs) catalyzed transformation of dihydronicotinamide adenine dinucleotide (NADH) to NAD(+) was monitored by UV-vis spectroscopy. Pd (core)-Au (shell) NPs were prepared by microwave irradiation method. High resolution transmission electron microscopy image reveals the core-shell morphology. X-ray diffraction pattern shows the presence of distinct crystalline domains for Pd and Au. The changes in absorbances at 340 nm were followed for various time intervals. Rates of conversion of NADH to NAD(+) were determined for different conditions. The conversion of NADH to NAD(+) was to be first order with respect to NADH at lower concentrations (upto 0.04 mM) and pseudo-first-order beyond 0.04 mM. Rate constants for the Pd (core) Au-(shell) NPs catalyzed transformation of NADH to NAD(+) were deduced.