The Fischer indolization afforded the title compound C31H25N3·C2H5OH as the major product in the reaction of 1,5-di(p-tolyl)pentane-1,3,5-trione with phenylhydrazine hydrochloride in ethanol. The structure assignment of this novel pyrazolylindole derivative is based on the data of elemental analysis, IR, 1H NMR, and 13C NMR spectroscopy. The structure is also confirmed by means of X-ray crystallography. The molecule crystallizes in the orthorhombic space group P 212121, with a = 10.298(2), b = 14.984(5), c = 18.133(3) A, Z = 8, V = 2798.0(12) A3. The absolute structure has been determined. The ethanol molecule forms intermolecular hydrogen bonds with the pyrazole and indole nitrogen atoms.