The present study investigates the preparation of the copper phthalocyanine pigment for inkjet printing inks. The pigment particle size distribution was measured with laser diffraction at different times of wet milling. Simultaneously, the absorbance spectra in a visible-near infrared spectral region of the corresponding diluted pigment dispersions were measured. At the beginning of the milling process, the particle size distribution is bimodal, showing the presence of aggregates and agglomerates. During the second hour of milling, the particle size distribution changes to unimodal due to the breaking of agglomerates, and the corresponding absorbance spectra change accordingly. Further milling diminishes the size of pigment aggregates up to the steady state value of around 130 nm, where also the absorbance in the corresponding spectra does not increase. A detailed analysis of intensity and position of the absorbance peak at 340 nm in dependence on the milling time and pigment concentration confirms the idea that an optical spectroscopy could be used for the assessment of optimal milling time required for the preparation of pigments with the maximum absorption ability.