The basic optical properties of the newly synthesized pyrromethene-BF2 derivative (Compound 1) were investigated systematically by its ultraviolet to visible (UV-visible) absorption, fluorescence and triplet-triplet absorption. Its lasing characteristics were measured on a dye laser system pumped by a continuous wave Ar ion laser. The results suggest that, compared with the typical pyrromethene-BF2 dye such as P-546, Compound 1 possesses stronger fluorescence and lower triplet-triplet absorption over its fluorescence spectral region. Excellent laser properties were also observed for Compound 1. It outperforms the commercially available benchmark laser dye rhodamine 6G in laser wavelength tuning range, which proves that Compound 1 is probably a potential candidate to be developed as the all-solid-state laser material.