A new palladium(II) complex entitled [Pd(phendione)(8Q)]NO(3), (PdPQ), where phendione is N,N-donor heterocyclic 1,10-phenanthroline-5,6-dion and 8Q is 8-hydroxyquinolinate, has been synthesized and then characterized by molar conductivity, CHN analysis and spectral data (UV-Vis, FT-IR, NMR). DFT/ TDDFT procedures were also performed to determine the electronic structure and the nature of the electronic transitions of PdPQ. Moreover, the affinity and binding properties of DNA to the desired complex have been studied in details using electronic absorption, fluorescence, circular dichroism spectroscopies, and viscosity measurement in combination with molecular docking technique. The obtained results exhibit relatively high DNA binding values with a static quenching mechanism, which suggest that an intercalative mode plays a peridominate role in interaction process concluded by experimental/theoretical measurements. As a result of drug exposure, in vitro cytotoxicity assay demonstrated the antiproliferative activity of the PdPQ against leukemia cancer cell line, K562.