Iron(II) phthalocyanine is widely used as a catalyst in various industrial and environmental processes. It is particularly effective in oxidation reactions, such as the conversion of hydrocarbons and the degradation of organic pollutants. Due to its stability and selectivity, it plays a key role in fuel cells, where it facilitates oxygen reduction reactions, improving efficiency and reducing reliance on precious metal catalysts like platinum.

It is also employed in gas sensors for detecting gases such as nitric oxide and ammonia, thanks to its ability to undergo reversible redox changes. In addition, iron(II) phthalocyanine serves as a functional mimic of biological heme systems, supporting research in biomimetic chemistry and enzyme modeling.

In materials science, it is used in organic semiconductors and thin-film electronics because of its excellent charge transport properties and thermal stability. Its intense color and light absorption make it suitable for use in photodynamic therapy and as a photosensitizer in certain types of solar energy systems. It is also utilized in the paint and ink industry for providing stable blue or dark green colors resistant to light and chemicals.