The electrical and photovoltaic properties of a newly designed two-layered photocell having the configuration ITO/ZnPc/CHR/In p-n junction were investigated. The rectification effect observed in the device is due to an energy barrier formed between the CHR and ZnPc layer. The depletion layer characteristics of the device were investigated by measuring the temperature variation of capacitance. These measurements indicate that a depletion layer of width 190 nm as well as potential barrier height of about 0.78 eV, decreases with temperature. The current–voltage characteristics of the device yield a barrier height of about 0.74 eV formed between ZnPc and CHR. The device showed a response to light over the whole visible region extending from 400 nm to 800 nm. The comparison of photoaction spectra with the absorption spectra also indicates the formation of an energy barrier between CHR and ZnPc. The dissociation of excitons induced by the built-in field potential existing between the CHR and ZnPc layers is responsible for photogeneration of the carriers. Various photovoltaic parameters were calculated and are discussed in detail.