In this work, chloroboron (III) subnaphthalocyanine (SubNc) was used as an electron donor, combined with a [6,6]-phenyl-C71-butyric acid methyl ester (PC70BM) or fullerene C70 acceptor in bulk heterojunction photovoltaic cells. In spite of the limited solubility of SubNc in organic solvents, the solution processed device exhibited an efficiency of 4.0% under 1 sun, AM1.5G solar irradiation at room temperature, and 5.0% at 80 ° C due to the temperature-dependence of the carrier mobilities. SubNc:C70 bulk heterojunctions were also fabricated via thermal co-evaporation, demonstrating an efficiency of 4.4%. This result shows that SubNc is a promising material for photovoltaic applications via various processing techniques, such as vacuum deposition and wet coating.