The new peripherally tetra-substituted metallophthalocyanines (MPcs, M=Zn, Co, Ni) bearing the chalcone, (E)-3-(4-hydroxyphenyl)-1-(thiophen-2-yl)prop-2-en-1-one, for dye-sensitized solar cells (DSSCs) were synthesized. FT-IR, H-1 NMR, C-13 NMR, and UV-Vis spectroscopy techniques were utilized for characterization of all the MPcs. Electrochemical, optical and photovoltaic properties of all the MPcs as sensitizers were examined. Electrochemical studies reveal that while the ZnPc (4) and NiPc (6) give only Pc ring-based redox reactions, the CoPc (5) shows redox reactions based on both the central metal and the ring due to the metal 3d orbitals lying between the Pc HOMO and LUMO. The DSSC based on 5 gave the lowest power conversion efficiency (0.51%), perhaps due to the presence of a redox active central metal ion in the core of the complex, which results in a decrease electron transfer in the device. However, cells based on the other complexes including redox inactive central metal ions, which cannot reduce electron transfer, showed reasonable power conversion efficiencies of 1.27% and 1.11% for 4 and 6, respectively. The slight difference between the efficiencies can be attributed to higher molar extinction coefficient and narrower band gap of 4 than 6, which ensure a higher photocurrent and broader light absorption in the visible region.