•Synthesis of a metal complex of 1,4,8,11-tetraaza14annulene derivative.•Spectroscopic and electrochemical behavior of the metal complex.•Catalytic activity of the metal complex. A new Co (II) complex of 6,13-disubstituted 1,4,8,11-tetraaza14annulene derivative has been synthesized by template condensation reaction of 2-(1-quinolinium-1-yl) trimethinium salt (B) with 1,2-diaminopyridine in the presence of Co (II) acetate in DMF. The electrochemical behavior of the metal complex showed a CoII/CoI redox couple at about −0.99V vs. Ag/Ag+ in DMF solvent. Axial ligation of N-donor ligands such as pyridine and imidazole was found to shift the reduction potential of CoII/CoI to more negative potential. The binding of N-donor axial ligands to the metal complex was monitored by measuring changes at about 458nm (maximun absorption of the metal complex) and shifts in the CoII/CoI redox couple potential upon addition of various concentrations of the N-donor axial ligand. Results showed that the number of axial ligand molecules bound to the metal complex is ≈1 and the oxidized state of cobalt (CoII) is more stabilized than the reduced state (CoI) in the presence of the axial ligand. The metal complex also showed catalytic activity toward hydrogen peroxide decomposition in the presence of the N-donor axial ligand.