Heterostructures offer superior photocatalytic characteristics over their constituent counterparts due to their charge separation abilities. Here, we conduct a systematic study of a recently synthesized novel family of palladium-based pentagonal air-stable 2D monolayers, PdSe₂, PdPSe, and PdPS, and their heterostructures using first-principles calculations for photocatalytic applications. Electronic band structure calculations reveal moderate bandgaps of 2.27 eV for PdSe2, 2.01 eV for PdPSe, and 2.25 eV for PdPS, indicating their suitability for photocatalytic water splitting. Moreover, to spatially separate and reduce the recombination possibility of photoinduced electron-hole pairs, we propose three van der Waals heterostructures: PdPSe/PdSe₂, PdPS/PdSe₂, PdPS/PdPS, with the corresponding bandgaps of 1.84 eV, 1.64 eV, and 1.65 eV, respectively. Based on work functions and the staggered band alignment of constituting monolayers, all three heterostructures are identified as type-II photocatalysts, which makes them notable photocatalyst. Additionally, band-edge potentials of PdPSe/PdSe₂ and PdPS/PdSe₂ confirm their suitability for overall water splitting via photocatalysis, whereas PdPS/PdPSe is suitable for oxygen evolution reactions only. The optical absorption spectra show the ability of each system to operate under a wide range of the spectrum, from visible light to high-energy (UV) regions. These characteristics make these systems valuable and attractive for photocatalytic applications.