A novel hydrazone, 1,3-bis (2-formylphenoxy) propane bis (2,4-dinitrophenyl hydrazine) (S) has been synthesized and characterized by the NMR, IR, CHNS, UV-Vis, Raman, TEM and XPS analysis. Upon the addition of monohydrogen phosphate (MHP) ion, sudden color change from light yellow to dark violet has occurred. The binding constant of S-MHP was determined by Hill plot. Hydrazone also showed potential response with MHP ion. A number of polymeric membrane electrodes (PME) and coated graphite electrode (CGE) were also fabricated and found that the CGE has revealed better results in comparison to PME in terms of the detection limit of 7.58 × 10(-9) mol L(-1) and Nernstian response.