Operation lifetime, as an important parameter, determines the performance of phosphorescent organic light-emitting diodes (OLEDs). Unveiling the intrinsic degradation mechanism of emission material is crucial for improving the operation’s lifetime. In this article, the photo-stabilities of tetradentate transition metal complexes, the popular phosphorescent materials, are explored by means of density functional theory (DFT) and time-dependent (TD)-DFT, aiming to illustrate the geometric signatures as important factors to control the photo-stabilities. Results indicate that for the tetradentate Ni(II), Pd(II), and Pt(II) complexes, the coordinate bonds of the Pt(II) complex exhibit stronger strength. It seems that the strengths of coordinate bonds are closely related to the atomic number of the metal center in the same group, which could be attributed to the various electron configurations. The effect of intramolecular and intermolecular interactions on ligand dissociation is also explored here. The large intramolecular steric hindrance and strong π-π interaction between the Pd(II) complexes caused by aggregation could effectively raise the energy barriers of the dissociation reaction, leading to an unfeasible reaction pathway. Moreover, the aggregation of Pd(II) complex can change the photo-deactivation mechanism as compared to that of monomeric Pd(II) complex, which is favored for avoiding the TTA (triplet-triplet annihilation) process.