Herein, results from the investigation of ultrafast photophysical and third-order nonlinear optical properties of newly synthesized Zn phthalocyanine, namely [Zinc (II) 2,10,16,24tetrakis(2,6-dichloropyridin-3-yl) phthalocyanine, PyCl<sub>2</sub>PC] molecule are presented. The photophysical properties were studied using femtosecond transient absorption spectroscopy while the NLO properties were measured using the single beam Z-scan and degenerate four-wave mixing (DFWM) techniques. The transient absorption spectra were obtained at 400 nm photoexcitation and a white light continuum probed the corresponding dynamics from (440-780 nm) in the solution phase. The obtained transient absorption spectra were globally fitted using a kinetic model which yielded the different photophysical constants after photoexcitation such as (i) internal conversion from higher electronic excited state (S<sub>n</sub>) to lower electronic state (S<sub>1</sub>) happening in 1 ps (ii) Vibrational relaxation (6.25 ps) occurring within the S<sub>1</sub> states (III) Intersystem crossing (1.78 ns) (IV) relaxation from the triplet states to ground state (0.11 μs). Nonlinear absorption properties were measured at 800 nm wavelength utilizing ~70 fs, 1 kHz laser pulses in the solution phase. A large two-photon absorption coefficient (β) of ~8×10<sup>-13</sup> cm/W was obtained and the corresponding cross-section was estimated to be 659 GM. Time-resolved degenerate four-wave-mixing measurements revealed a large magnitude and an ultrafast response of χ<sup>(3)</sup>.