Present paper discuss the synthesis and characterization of metal (II) 1, 3, 8, 10, 15, 17, 22, 24-octa-1-(3-nitro phenyl)methaniminephthalocyanines(M-NPhImPcO) (M = Cu, Co, Ni, Zn) by an efficient, simple, and novel method. Octaamino metal (II) phthalocyanines were synthesized by the reduction of the corresponding nitro phthalocyanines. The dark green octa-1-(3-nitrophenyl) methaniminephthalocyanine derivatives were characterized by elemental analysis, magnetic susceptibility, electronic, IR and powder X-ray diffraction studies to check the purity, structural integrity and crystalline properties of the complexes. Magnetic susceptibility studies on Co (II) and Cu (II) octa-1-(3-nitrophenyl) methaniminephthalocyanine complexes exhibit a variation of the magnetic moments as a function of field strength indicating the presence of inter molecular co-operative effect.