5,15-Dioxaporphyrin was synthesized for the first time by an ucleophilic aromatic substitution reaction of an ickel bis(a,a'-dibromodipyrrin) complex with benzaldoxime,f ollowed by an intramolecular annulation of the a-hydroxy-substituted intermediate.T his unprecedented molecule is a2 0 p-electron antiaromatic system, in terms of Hückelsr ule of aromaticity,b ecause lone pair electrons of oxygen atoms are incorporated into the 18p-electron conjugated system of the porphyrin. Atheoretical analysis based on the gauge-including magnetically induced current method confirmed its antiaromaticity and ad ominant inner ring pathway for the ring current. The unique reactivity of 5,15dioxaporphyrin forming a b,b-linked dimer upon oxidation was also revealed.