In this paper, we report the synthesis, characterization and third order nonlinear optical properties of a new organic NLO material of 4-amino-5-(4-nitrophenyl)-1, 2, 4-triazole-3-thione (ANIT). The material was characterized by UV–vis and FTIR studies. The third order nonlinear optical properties have been investigated in dimethyl formamide (DMF) solution at 532 nm by using the Z-scan technique with pulses of nanoseconds duration. Open aperture data demonstrates the presence of two photon absorption at this wavelength. The nonlinear absorption coefficient β, the nonlinear refractive index n2, the magnitude of effective third order susceptibility χ(3) and the second order hyperpolarizability γh have been estimated as 2.99 cm/GW, −2.53 × 10−11 esu, 2.72 × 10−13esu and 0.281 × 10−31esu respectively. The values obtained are comparable with the values obtained for 4-methoxy chalcone derivatives and dibenzylideneacetone derivatives. The value of coupling factor have been estimated to be 0.17, indicating that the nonlinearity is electronic in origin. The compound exhibits good optical limiting at 532 nm with the limiting threshold of 80 μJ/pulse. The comparatively high value obtained indicates that this material may be used in optical device applications like optical limiters and optical switches.