AbstractBODIPY based molecules functionalized with water soluble moieties have been developed and recognized as liable triplet photosensitizers for phototherapeutic applications. In this work, we have prepared BODIPY analogues with dicarboxylic acid groups and bearing iodine or fullerene moieties for efficient intersystem crossing which display far‐red absorption band and high singlet oxygen production both in organic and aqueous media. In this perspective by using similar design the effect of the halogenation of the dyes versus spin converter on the skeleton were compared. The structures of the synthesized BODIPYs and BODIPY‐C60 (6–10) were elucidated by mass, 1H and 13C NMR spectroscopic techniques. Photophysical and photochemical properties of the compounds were examined using UV‐Vis. absorption and fluorescence emission spectrophotometers. The absorption intensities of the trap molecules (DPBF and ADBA) reduced because of singlet oxygen generation in the media. This study may provide useful infrastructure to elucidate the relationship between the use of fullerene (9) or iodine (10) where singlet oxygen quantum yield of 9 and 10 are determined as 0.87 and 0.97 respectively.