In this work, two new biscyclometalated Ir(III) complexes with diimine ligands were synthesized. The compounds were characterized by 1D and 2D NMR spectroscopy and HR ESI mass spectrometry. All complexes exhibit efficient phosphorescence with pronounced sensitivity to the presence of oxygen. The photophysical properties of the obtained compounds, including absorption, emission spectra, lifetimes and quantum yields of phosphorescence were measured in various aqueous and model biological media with variations in pH, temperature and at various O2 concentrations. The complexes exhibit a very good sensory response to the changes in oxygen concentration, resulting in an increase in quantum yields and lifetimes by 2.8–5.5 times upon oxygen removal from aerated aqueous solutions. Biological tests with CHO-K1 cell line have shown that these compounds display low toxicity, rapid internalization into cells and localization predominantly in lysosomes. For the most promising complex the phosphorescence lifetime imaging experiments were conducted, revealing that this sensor markedly changes the phosphorescence lifetime values in cells from 1.8 to 4.1 μs upon transition from normoxia to simulated hypoxia. The obtained results indicate that this type of iridium chromophores can be effectively used for assessing the oxygen status of living objects by using time-resolved luminescent microscopy.