The new Schiff base 1‐[(2‐{1‐[(dicyclohexylamino)‐methyl]‐1H‐indol‐3‐yl}‐ethylimino)‐methyl]naphthalen‐2‐ol (HL) was prepared from 1‐{[2‐(1H‐Indol‐3‐yl)‐ethylimino] methyl}‐naphthalen‐2‐ol and dicyclohexyl amine. From this Schiff base, monomeric complexes [M (L)n (H2O)2 Cl2] with M = Cr, Fe, Mn, Cd, and Hg were synthesized and characterized based on elemental analysis (EA), FT‐IR, mass(MS), UV‐visible, thermal analysis, magnetic moment, and molar conductance. The results showed that the geometrical structural were octahedral geometries for the Cr(III) and Fe(III) complexes, square planer for Pd(II) complex, and tetrahedral for Mn(II), Cd(II), and Hg(II) complexes. Kinetic parameters such as ΔE*,ΔH*, ΔG*, and K of the thermal decomposition stages were calculated from the TGA curves using Coats‐Redfern method. Additionally, density functional theory (DFT) was applied for calculations of both electronic structure and spectroscopic properties of synthesized Schiff base and its complexes. The analysis of electrostatic potential (EPS) maps correlates well with the computed energies providing on the dominant electrostatic nature of N‐H‐‐‐O interactions. The biological activities had been tested in vitro against Staphylococcus aureus, Pseudomonas aeruginosa, as well fungi like Penicillium expansum, Fusarium graminearum, Macrophomina phasealina, and Candida albicans bacteria in order to assess their antimicrobial potential.