This review article reports methods of synthesis and selected physicochemical properties of metallo and metal-free 2,3,9,10,16,17,23,24-octacarboxyphthalocyanines. The most frequently used methods of synthesis for this class of compounds are described in this article. Moreover, aggregation, catalytic and photocatalytic properties of these complexes are presented. Potential applications of metallo and metal-free 2,3,9,10,16,17,23,24-octacarboxyphthalocyanines are also given.