In the crytal structure of the title compound, [Pd2(C56H50N8)]2(BF4)4·8CH3CN·H2O, the asymmetric 5-phenyl-3- p-tolylpyrazolate ligands bridge (4,4′-dimethyl-2,2′-bipyridine-κ2 N, N′)palladium(II) units in cis and trans fashions, resulting in two coexistent dipalladium complexes. The six-membered rings consisting of the two Pd atoms and the four pyrazolyl N atoms have boat-shaped conformations in both independent complexes; the Pd atoms are four-coordinate in square-planar environments. The crystal structure is stabilized by electrostatic forces between the cations and anions, and weak intermolecular hydrogen bonds involving tetrafluridoborate anions (C—H⋯F), the solvent acetonitrile molecules (C—H⋯N) and water molecules (C—H⋯O). [ABSTRACT FROM AUTHOR]