A comparative study of the AC electrical properties of cobalt phthalocyanine thin films before and after annealing at 493 K (220°C) is conducted. The films are prepared by evaporation using purified material and measurements are made in the frequency range 102-2×104 Hz and for temperature of 150-500 K. The results are consistent with the existing equivalent circuit model, with the reduced values after annealing resulting from oxygen desorption and phase transformation behavior. It is clear that measurements taken after annealing are necessary in order to reveal the intrinsic properties of evaporated phthalocyanine thin films.