We present our experimental results on the measurements of excited state dynamics in phthalocyanines ( Pc , CuPc , FePc , and ZnPc ) using degenerate four wave mixing with incoherent light (DFWM-IL). Three different timescales were observed, for all samples, in the phase conjugate signal recorded as a function of delay in probe beam in the standard backward geometry. The fastest component (< 170 fs) is associated to the phase relaxation in the S n states and the slowest components (∼3-5 ps and 35-55 ps) to the vibration and population relaxation times from the S1 state. The present results are compared with those obtained with shorter pulses and various techniques for similar molecules. The consequences of such short lifetimes are also discussed in view of the strong optical limiting properties of these molecules.