Selective catalytic reduction of NOx to nitrogen by hydrogen (H2-SCR) does not result in any secondary pollutants and can reduce NOx at the lowest possible temperatures. To achieve this goal, proper catalysts are critical. In this paper, NiFe2−xPdxO4 catalysts were prepared using a sol–gel auto-ignition method for the selective catalytic reduction of NO with hydrogen (H2-SCR) in the presence of oxygen at 150–250°C. The NiFe2−xPdxO4 catalysts exhibited high SCR activity providing 100% NO conversion at 190°C, and the activity improved as the palladium content increased. NiFe1.90Pd0.10O4 exhibited a slightly lower activity in the 180–220°C range. NiFe1.93Pd0.07O4 and NiFe1.95Pd0.05O4 exhibited larger acidity, higher level of reducibility and catalytic activity, which was validated through NH3-TPR, H2-TPR analysis and SCR activity tests. The XRD results indicated that the samples had a spinel cubic structure with good crystallization. The EDS results indicated that the Fe/Ni and Pd/Ni atomic ratio in the samples were consistent with the theoretical molecular formula (i.e., NiFe2−xPdxO4). The effects of GHSV, H2/NO ratios and O2 feed concentration on the NO conversion over the NiFe1.95Pd0.05O4 catalyst were also investigated. An increase in the O2 concentration from 0% to 6% and a decrease in the H2/NO ratio from 10:1 to 5:1 produced only a slight decrease in the NO conversion. Studies on the effect of 3% and 5% H2O on the SCR activity concluded that the slight activity decrease, was due to reversible inhibition and weakly irreversible deactivation, and that the catalysts contained excellent water tolerance.