Co(II) and Cu(II) complexes and metal-free t-butylphenyl peripherally substituted porphyrazine (Pz) have been screened for invitro antifungal (Aspergillus niger) and antioxidant (free radical scavenging, superoxide radical scavenging, and reducing power) activities. The results were compared with synthetic antioxidants, e.g., butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), trolox, or -tocopherol. The free radical scavenging activity of H2Pz was higher than the CuPz complex. However, CuPz complex showed higher superoxide radical scavenging activity than BHA, BHT, and trolox while H2Pz and CoPz showed weaker activity than BHA, BHT, and trolox. The reducing power of all complexes was similar to that of BHT and -tocopherol on a per molar basis. The ligand and complexes have antifungal activity against A. niger. The compounds have significant superoxide radical scavenging activity against various antioxidant systems invitro.