This article describes the synthesis, characterization, and metal ion binding properties of a new macrobicyclic ligand. Solvent extraction experiments were performed in order to determine the extraction behavior of new macrobicyclic ligand towards selected metal cations. Selective extraction of heavy metals and precious metals is highly demanded due to their toxicity and commercial importance. Based on our experimental results, macrobicyclic ligand 3 demonstrated remarkable affinity towards the Ag+ ion by 96.7% and 96.9% to the dichloromethane and chloroform phases, respectively. The extraction experiments with macrobicyclic ligand 3 for the Ag+ ion were repeated at different temperatures to calculate thermodynamic parameters. The negative values of thermodynamic parameters indicated that the formation of complex during solvent extraction was an exothermic process.