Tetrakis(triphenylphosphine)palladium(0) was first prepared by Lamberto Malatesta et al. in the 1950s by reduction of sodium chloropalladate with hydrazine in the presence of the phosphine. It is commercially available, but can be prepared in two steps from Pd(II) precursors:
:PdCl + 2 PPh → PdCl(PPh)
:PdCl(PPh) + 2 PPh +  NH → Pd(PPh) +  N + 2 NHCl
Both steps may be carried out in a one-pot reaction, without isolating and purifying the PdCl(PPh) intermediate. Reductants other than hydrazine can be employed, including ascorbic acid. The compound is sensitive to air, but can be purified by washing with methanol to give the desired yellow powder. It is usually stored cold under argon.