The polymeric hydrogen form of phthalocyanine is found to be more conductive than the metallic derivatives, in contrast to the behavior of the monomers. In addition, the polymers were found to be much more conductive than the corresponding monomers with the resistivity of the polymers ranging from 7 ohm‐cm to about 3 × 106 ohm‐cm. The polymers were found to have moderately high dielectric constants ranging from 16 to 1300 at room temperature, depending upon the applied pressure. Based on the dependences of the conductivity and permittivity upon the electric field strength, the average molecular length of the conductive paths within the polymer molecule has been estimated to be 100–1000 Å. In view of these estimated lengths, together with the exponential dependence of the permittivity and conductivity upon the pressure and temperature, the dispersion of the dielectric constants in the range of 10–100 KHz, and the chemical architecture of these ribbonlike polymers, the electronic behavior of these polymers is concluded to be consonant with the model of essentially one‐dimensional conduction within and along the chains by freed charges. Much as in a number of previously studied highly conjugated polymers, the present polyphthalocyanines are semiconducting and exhibit nomadic polarization, with dielectric constants ranging from 70 to 1300.