Abstract The NLRP3 inflammasome is a component of the innate immune system that plays a crucial role in the pathophysiology of multiple metabolic diseases. But so far, no marketed drugs specifically targeting NLRP3 have been approved. Here, we report the characterization of GS8-164, a potent and selective NLRP3 inflammasome inhibitor with a new phthalazine skeleton. In vitro, GS8-164 displayed potent inhibition of IL-1b production in THP-1, human PBMC and human whole blood assays without inhibiting either IL-6 or TNF-α. In vivo, GS8-164 strongly inhibited production of IL-1β in an acute mouse peritonitis model, and attenuated pathological progress and production of IL-1β in a rat acute pericarditis model. GS8-164 has a good ADME and toxicology profile. In 14-day rat and dog toxicology studies, GS8-164 displayed good tolerance, excellent PK profile and a good safety window (>50 fold). GS8-164 is under IND-enabling study and the clinical development is planned towards early 2025.