The extremely large magnetoresistance (XMR) effect in nonmagnetic semimetals have attracted intensive attention recently. Here we propose an XMR candidate material SrPd based on first-principles electronic structure calculations in combination with a semi-classical model. The calculated carrier densities in SrPd indicate that there is a good electron-hole compensation, while the calculated intrinsic carrier mobilities are as high as 10$^5$ cm$^2$V$^{-1}$s$^{-1}$. There are only two doubly degenerate bands crossing the Fermi level for SrPd, thus a semi-classical two-band model is available for describing its transport properties. Accordingly, the magnetoresistance of SrPd under a magnetic field of $4$ Tesla is predicted to reach ${10^5} %$ at low temperature. Furthermore, the calculated topological invariant indicates that SrPd is topologically trivial. Our theoretical studies suggest that SrPd can serve as an ideal platform to examine the charge compensation mechanism of the XMR effect.
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