Platinum and palladium nanoparticles, supported and stabilized by polymeric core-shell architectures, proved to be active catalysts for hydrogenation reactions. Here, two different reactions were used as probes to investigate the influence of the polymeric support: the hydrogenation of alpha-methyl styrene (AMS) to cumene and the partial hydrogenation of 1,5-cyclooctadiene (COD). We found that the stability of the nanoparticles and the rate of reaction are higher in the presence of a hydrophobic octadecyl shell within a three-shell polymer system. The kinetic study of AMS hydrogenation showed much higher activities for palladium nanoparticles than for platinum nanopartides, and the obtained results (e.g., 35 kJ/mol for the activation energy) are of the same order of magnitude as reported earlier for palladium supported on alumina. A methanol/n-heptane biphasic mixture was tested for catalyst recycling and allowed for highly efficient catalyst separation with very low metal leaching.