The invention relates to a process for hydrogen transfer to chemical compounds, wherein hydrogen transfer is carried out in a supercritical or subcritical phase using stabilized and dispersed metal particles. The invention further provides for the use of metal colloids stabilized by organic compounds or embedded in organic compounds as catalysts in a process for hydrogen transfer to chemical compounds in a supercritical or subcritical phase so as to avoid the formation of free-radical intermediates during hydrogen transfer.