The synthesis, photophysical and photochemical properties of tetrasubstituted phthalocyanines with a dibenzazepine frame are reported. The new compounds have been characterized by elemental analysis, IR, ¹H and ¹³C NMR spectroscopy, electronic spectroscopy and mass spectra. General trends are described for photodegradation, singlet oxygen, fluorescence and triplet excited state quantum yields, and triplet state and fluorescence lifetimes of these compounds in dimethylsulfoxide (DMSO). The fluorescence of the complexes is quenched by benzoquinone (BQ). Photophysical and photochemical properties of phthalocyanine complexes are very useful for PhotoDynamic Therapy (PDT) applications. The substituted Zn(II) phthalocyanines show high triplet and singlet oxygen quantum yields. High singlet oxygen quantum yields are very important for a Type II photosensitization mechanism, so these complexes have potential for that application.