Novel perfluorinated porphyrazine has been prepared as indium(III) complex of octa(pentafluorophenyl)porphyrazine by cyclotetramerization of 1,2-dicyano-1,2-bis(pentafluorophenyl)-ethylene (mixture of cis- and trans-isomers) with basic indium(III) acetate in a melt. The InIIIcomplex is stable in trifluoroacetic and sulfuric acids, but is easily demetalated with formation of the free-base in a chloroform solution containing HCl or slighly acidified with CF3COOH in the presence of tetraalkylammonium chloride as a catalyst. Perfluorination of octaphenylporphyrazine macrocycle leads to a hypsochromic shift of the Q-band maxima in the electronic absorption spectra, to drastic decrease of the basicity of meso-nitrogen atoms of porphyrazine macrocycle and to increase of the acidity of the internal NH -groups.