We report on the synthesis and structural characterization of a giant, discrete, and neutral molecular disk, [Pd40O24(OH)16{(CH3)2AsO2}16] (Pd40), comprising a 40-palladium-oxo core that is capped by 16 dimethylarsinate moieties, resulting in a palladium-oxo cluster (POC) with a diameter of ∼2 nm. Pd40, which is the largest known neutral Pd-based oxo cluster, can be isolated either as a discrete species or constituting a 3D H-bonded organic-inorganic framework (HOIF) with a 12-tungstate Keggin ion, [SiW12O40]4- or [GeW12O40]4-. 1H and 13C NMR as well as 1H-DOSY NMR studies indicate that Pd40 is stable in aqueous solution, which is also confirmed by ESI-MS studies. Pd40 was also immobilized on a mesoporous support (SBA15) followed by the generation of size-controlled Pd nanoparticles (diameter ∼2-6 nm, as based on HR-TEM), leading to an effective heterogeneous hydrogenation catalyst for the transformation of various arenes to saturated carbocycles.