The asymmetric unit of the title compound, C(28)H(20)N(2)O(2)·0.5C(2)H(5)OH, contains two independent mol-ecules of 1,1'-[o-phenyl-enebis(nitrilo-methyl-idyne)]di-2-naphthol, denoted A and B, and one ethanol solvent mol-ecule. The hydr-oxy groups are involved in intra-molecular O-H⋯N hydrogen bonds influencing the mol-ecular conformations, which are slightly different in mol-ecules A and B, where the two bicyclic systems form dihedral angles of 51.93 (9) and 58.52 (9)°, respectively. In the crystal structure, a number of short inter-molecular C⋯C contacts with distances of less than 3.5 Å suggest the existence of π-π inter-actions, which contribute to the stability of the crystal packing.