Fossil energy can bring great convenience to human beings, but the carbon dioxide released at the same time can produce Greenhouse Effect, resulting in the rise of Earth's temperature, which has a great impact on the environment. Therefore, how to efficiently catalyze the reduction of carbon dioxide is a hot issue to be solved. Metal phthalocyanines exhibit superior electrochemical catalytic performance due to their large conjugated structure, while carbon nanotubes and graphene, as nanoscale materials, have extremely large surface area and excellent electrochemical performance. The combination of carbon nanotubes and graphene with metal phthalocyanine can greatly improve the electrocatalytic performance of the composites. Herein, in this review, the mechanism of catalytic reduction of carbon dioxide (CO2) by metal phthalocyanine based composites and its research progress are reviewed, the current problems in the field of electrocatalysis of phthalocyanine based composites with the future prospects are presented. We hope this review will help to stimulate further development of phthalocyanine based composites with high performance CO2 catalytic reduction.