The X-ray structure, electrochemistry, and optical spectroscopy of the porphycene analog of a benzochlorin, octaethylbenzochloracene (OEBzC) are reported. The OEBzC macrocycle is easier to oxidize and harder to reduce than octaethylporphycene (OEPc). The optical spectra of OEBzC and of the diacid salt are also reported. The optical spectrum for the one-electron oxidation of OEBzC is indicative of π-cation radical formation. In porphyrins, saturation of one pyrrole ring and addition of an exocyclic benzene ring progressively red-shifts the first absorption band. For porphycenes, saturation of one pyrrole ring results in a 35 nm blue shift in the first absorption relative to OEPc. Compared to 2,3-dihydroporphycene (DHPc), the first absorption band in OEBzC is red-shifted 24 nm. These studies further illustrate how the fused exocyclic benzene ring influences the macrocycle conformation, chemical and physical properties of porphycenes.