A new aroyl-hydrazone, 2-pyridine carboxaldehyde-derived hydrazone ligand and its cobalt(II) (1) and vanadium(V) (2) complexes were prepared. The structures of these compounds were investigated using elemental analysis, spectral (IR, UV), and X-ray diffraction measurements. The electrochemical properties of the complexes were studied by cyclic voltammetry. The hydrazone ligand acted as tridentate and coordinated to vanadium and cobalt via N-imine, N-pyridine, and O-benzohydrazide atoms. The Co(II) complex crystallizes in the monoclinic system, space group P2(1)/c, and has a binuclear structure. Chloride ions behave as the linking bridge and a tridentate hydrazine ligand HL and water as the terminal capping ligands. The central Co(II) ion has distorted octahedral geometry. The vanadium(V) complex crystallizes in the monoclinic crystal system, space group P2(1)/n, and can be described as having highly distorted trigonal-bipyramidal coordination. The geometries and electronic properties of the complexes were also obtained using DFT and TD-DFT calculations.