The synthesis and biological properties of a novel, hexadeca substituted zinc phthalocyanine (3) bearing 6-quinolinoxy units on the periphery together with hexyloxy chains on the non-periphery and its quaternized derivative (3Q) have been reported. The new quinolinoxy substituted zinc phthalocyanine (3) was synthesized and quaternized with the excess of methyl iodide to obtain the compound 3Q. The binding of quaternized 3Q with calf thymus DNA was investigated by UV-vis and fluorescence spectrophotometric methods. The quenching effect of quaternized phthalocyanine on the fluorescence intensity of the SYBR Gold-DNA complex was determined. The interaction between 3Q and bovine serum albumin was investigated. The quenching effect of 3Q on the fluorescence of the acridine orange-BSA complex was determined. The results indicated that this water soluble zinc phthalocyanine can be used for biological and medicinal applications.