New metal phthalocyanine imide copolymers with high thermal stability, based on the reaction between metal (11) 4,4′,4″,4‴‐phthalocyaninetetraamine, 4‐aminophenylether, and 1,2,4,5‐benzenetetracarboxylic dianhydride, were prepared. Infrared (IR) spectra, thermogravimetric analysis (TGA), and viscosity measurements were used to characterize these polymers. All polymers exhibited good thermal and thermooxidative stability at polymer decomposition temperatures (PDT) greater than 500°C in air and nitrogen atmosphere. Another attractive feature is their high char yields—60–75% at 800°C in nitrogen atmosphere. The ratio of the polymer decomposition temperatures in air and nitrogen atmospheres, (PDTair)/(PDT N 2), varied from 0.94 to 0.98. These polymers have promising applications in heat‐stable films, fibers, and coatings.