It is an air-sensitive black solid that is soluble in diethyl ether and aromatic solvents.

The compound decomposes in solution after a few days even under inert atmosphere.

The laboratory synthesis of Fe(COT)2, using Schlenk techniques, involves reduction of ferric acetylacetonate by triethylaluminium in the presence of 1,3,5,7-cyclooctatetraene:[2] According to analysis by single crystal X-ray crystallography, the two cyclooctatetraene rings bind differently to the Fe center, leading to the description Fe(η4-C8H8)(η6-C8H8).

One cyclooctatetraene ring binds to Fe with two adjacent double bonds.

[1] In solution, Fe(C8H8)2 is a fluxional molecule such that its 1H NMR spectrum consists of a singlet at room-temperature.