In the mol-ecule of the title compound, [Ni(C19H20N2O4)(H2O)2], the central Ni(II) ion lies on a mirror plane and is surrounded by an N2O4 coordination set in the form of a distorted octa-hedron defined by the O atoms of two water mol-ecules and by two phenolic O and two imine N atoms of the tetra-dentate Schiff base ligand. In the crystal, O-H⋯O hydrogen bonds between the water mol-ecules and the phenolic and meth-oxy O atoms of neighbouring mol-ecules lead to the formation of rods propagating parallel to [100].