In this study, usage possibility of naphthenates, which is known as saturated hydrocarbons present in the chemical composition of grease obtained from the handling of petrol, as a dye in textile industry was investigated. For this aim, firstly the naphthenate copper complex (a dye containing metal) with blue color is obtained from the reaction of naphthenate acid and copper salt obtained from the side fraction of petrol. Chemical composition of this compound was analyzed by using spectrophotometric methods (IR, NMR and ESR). Furthermore, optimum conditions for solubility of synthesized dye were determined in the presence and absence of ultrasound. Then, dyeability of various fibers (cotton, wool, polyamide, polyester, polyacrylnitrile) with synthesized dye was determined. Finally, tests were performed in order to determine whether the dye has carcinogenic and/or allergy effect. According to the results, it was observed that there is no danger in this direction. According to the experimental results, it was determined that copper naphthenate compound can be used in dyeing of wool fibers.