Elucidating the correlations between the core structure of atomically precise nanoclusters and their catalytic activities is fundamentalfor exploring highly efficient nanocatalysts. Herein, a series of Ag-based nanoclusters protected by 2,4-dimethylphenylthiophenol (specifically Ag 4 Pd 2 (SPhMe 2 ) 8 and Ag 24 M(SPhMe 2 ) 18 where M = Ag, Pd, and Pt) were synthesized and deposited on TiO 2 supports as heterogeneous catalysts for the selective hydrogenation of nitroarenes with NaBH 4 as the reductant. It was found that Ag 4 Pd 2 (SPhMe 2 ) 8 could spontaneously lose its ligands during catalysis, leading to the formation of polydispersed AgPd nanoparticles. This transformation endows the system with extraordinary activity for driving the hydrogenation of nitroarenes. However, the Ag 24 M (M = Ag, Pd, and Pt) systems, maintain their core structures during catalysis. They follow the generally reported ligand-mediated hydride-involved process, with catalytic activities depending on the central atom (Pt > Pd > Ag), which affects the hydride transferred from the nanoclusters to the reactant to regulate the catalysis.