Palladium(II) acetate catalyses the aerobic oxidation of alcohols into the corresponding aldehydes and ketones in the presence of a catalytic amount of a novel perfluoroalkylated-pyridine as a ligand using molecular oxygen in a fluorous biphase system (FBS) composed of toluene and perfluorodecalin. This catalytic system is applicable to various benzylic and aliphatic alcohols. The fluorous phase containing