In this research, we report a bulk heterojunction(BHJ) solar cell consisting of a ternary blend system. Poly(3-hexylthiophene) P3 HT is used as a donor and [6,6]-phenyl C61-butyric acid methylester(PCBM) plays the role of acceptor whereas vanadyl 2,9,16,23-tetraphenoxy-29 H, 31H-phthalocyanine(VOPc Ph O) is selected as an ambipolar transport material. The materials are selected and assembled in such a fashion that the generated charge carriers could efficiently be transported rightwards within the blend. The organic BHJ solar cells consist of ITO/PEDOT:PSS/ternary BHJ blend/Al structure. The power conversion efficiencies of the ITO/ PEDOT:PSS/P3HT:PCBM/Al and ITO/PEDOT:PSS/P3HT:PCBM:VOPcPhO/Al solar cells are found to be 2.3% and 3.4%, respectively. In this research, we report a bulk heterojunction (BHJ) solar cell consisting of a ternary blend system. Poly (3-hexylthiophene) P3 HT is used as a donor and [6,6] plays the role of acceptor-vanadyl 2,9,16,23-tetraphenoxy-29H, 31H-phthalocyanine (VOPc PhO) is selected as an ambipolar transport material. The materials are selected and assembled in such a fashion that the generated charge The organic conversion of efficiencies of the ITO / PEDOT: PSS / P3HT: PCBM / Al and ITO / POTOT: PSS / ternary BHJ blend / PEDOT: PSS / P3HT: PCBM: VOPcPhO / Al solar cells are found to be 2.3% and 3.4% respectively.