We investigated nonlinear optical properties of Phenoxy-phthalocyanine (Pc1) and Phenoxy-phthalocyanine-Zinc(II) (Pc2) at a wavelength of 800 nm with 100 fs pulses. The nonlinear absorption coefficient (alpha) and nonlinear refractive index (n(2)) are measured using standard Z-scan technique. Open aperture Z-scan indicates strong three-photon absorption in both phthalocyanines. With good solubility and excellent nonlinear optical coefficient,the samples are expected to be a potential candidate for optical applications.