New poly(1,3,4-oxadiazole-aryl ether) (POAE) containing carboxylic acid groups derived from 2,5-bis(4-fluorophenyl)-1,3,4-oxadiazole and 3-(3,4-dihydroxyphenyl)propanoic acid have been synthesized from typical aromatic nucleophilic substitution reaction. The POAE is modified to high dielectric, photoactive and electroactive materials by tailoring with tetra amino metalphthalocyanines (TAMPs) (M=Co, Ni and Cu) in a stoichiometric ratio to afford polymer embedded metalphthalocyanine (PEMP1–9). The weight average and number average molecular weight of POAE was determined by gel permeation chromatography (GPC), and the polydispersity index is found to be 4.83 (Mw/Mn). All the tailor-made polymers were well characterized by Solid State UV–vis, TGA and XRD analysis. FTIR and NMR spectroscopic techniques confirms TAMP units are interjected in to the polymer matrix, which play a key role to emerge as photoactive by absorbing visible window from 400 to 800nm and make it to be remarkable drop off in optical band gap, yields effective electronic communiqué between POAE polymer and embedded TAMP macrocycles. Thermogravimetric analysis shows that the TAMP embedded materials have enhanced thermal stability relative to the POAE, as expected. The variation in the AC conductivity was explained by electron hopping model and values are in the range from 3.2×10−5 to 4.8×10−5 (S/m) at 5MHz measured at 20°C.