In thisstudy, the synthesis of a novel N-pivot 12-membered macrocyclic ligand withmixed donor atoms 2, which is aphthalonitrile derivative, and a new cobalt(II) phthalocyanine complex 3 obtained by cyclotetramerizationreaction of  2 were described.  Newly synthesizedcompounds were characterized by using several spectroscopic techniques such asIR, UV-Vis, 1H and 13C NMR, MS and elemental analysis.These macrocyclic systems 2 and 3 were investigated as extractants inliquid-liquid extraction technique to reveal metal ion binding capabilitytowards transition metals such as Ag(I), Hg(II), Cd(II), Zn(II), Cu(II),Ni(II), Pb(II) and Co(II). The highestextractability from aqueous phase to organic phase was found for Hg(II) cationover the other metal cations with cobalt(II) phthalocyanine 3. The extraction percentage of Hg(II)cation from aqueous phase to chloroform in the presence of cobalt(II)phthalocyanine 3 as extractant wasfound as 96.0%.