Reaction of Li-4(thf)(4)(oepg) (oepg = octaethylporphyrinogen with YCl3(thf)(3.5) affords the first yttrium porphyrinogen complex [Li(thf)(2)][(oepg)Y(mu-OEt)Li(thf)] 1 via intermediate cleavage of thf, subsequent reaction with alkyl and hydride sources leads to the formation of the demetallated dienolate salt of the macrocycle [(oepg)(thfLi)(4)][(thf)LiOCH=CH2](2) 2.