A new cryptand compound carrying 2-hydroxy-1-naphthylidene Schiff base moiety (3) was designed and synthesized by reaction of the corresponding macrobicyclic amine compound (1) and 2-hydroxy-1-naphthaldehyde (2). The influence of metal cations such as Mg2+, Ca2+, Sr2+, Fe2+,Co2+, Mn2+, Zn2+, Cd2+, Hg2+, Al3+ and Pb2+ on the spectroscopic properties of the new fluoroionophore was investigated in acetonitrile-dichloromethane solution (9.5/0.5) by means of absorption and emission spectrometry. The blue shifts on the fluorescence spectrum were observed for all metal cations at 504nm. At the same time the fluorescence spectrum of the ligand showed quenching in the intensity of the signal at 504 nm for all metal cations except for Zn2+. Interaction of Co2+ with the ligand caused quenching of naphtyl fluorescence higher than 84%. The method showed good selectivity and sensitivity for Co2+ with respect to other metal cations with linear range and detection limit of 1.5 x 10(-7) to 3.3 x 10(-6)M and 4.8 x 10(-8)M respectively.