Nickel nanoparticles were dispersed on the surface of exfoliated black phosphorus and the resulting nanohybrid Ni/2DBP showed an improved stability with respect to pristine 2D BP when kept under ambient conditions in the dark. Ni/2DBP was applied as a catalyst in the semihydrogenation of phenylacetylene and exhibited high conversion and selectivity towards styrene. These features were preserved after recycling tests revealing the high stability of the nanohybrid.