The strong anchoring effects for lithium polysulfides (LiPSs), as well as fast redox kinetics, are of great significance and necessity for the commercial development of lithium-sulfur batteries (LSBs). Metal phthalocyanines (MPc), with special M-N4 moieties, are a class of macrocyclic compounds that have the potential to be employed as sulfur host materials in LSBs. Herein, a series of 3d transition metal phthalocyanines (M = Sc, Ti, V, Cr, Mn, Fe, Co, Ni, Cu, Zn) were systematically investigated for the anchoring effects and catalytic conversion activities for S8/LiPSs. The binding energy analysis demonstrates that most of MPc (except NiPc and CuPc) have stronger binding strength for S8/LiPSs than metal-free phthalocyanine (H2Pc), mainly due to the strong interaction between transition metals and S atoms. Meanwhile, the formation of the M–S bond shows a weakening effect on the Li–S bonds of Li2S then boosts the decomposition of Li2S, and MPc also possesses a relatively lower lithium diffusion barrier than H2Pc. Moreover, MPc can also accelerate the multi-step conversions from S8 to Li2S by reducing the free energy of the rate-limiting reaction (Li2S2 to Li2S) in sulfur reduction reactions (SRR). Among these MPc, TiPc has the best performance in anchoring LiPSs, accelerating the decomposition of Li2S, and promoting SRR.