Mononuclear copper phthalocyanine (CuPc) and binuclear copper phthalocyanine (Cu2Pc2) were synthesized by the phenylanhydride-urea route, and their catalytic oxidation activity on 2-mercaptoethanol was studied. Based on the experimental results, a catalytic mechanism of Cu2Pc2 on 2-mercaptoethanol has been proposed. Furthermore, the effects of pH, Cu2Pc2 concentration, and temperature on the catalytic oxidation activity were evaluated. The results showed that CuPc has no catalytic activity, while Cu2Pc2 has high catalytic oxidation activity towards 2-mercaptoethanol with the optimal activity at pH 11. The reaction can further be enhanced by increasing Cu2Pc2 concentration and temperature, due to its endothermic characteristics.