Performances and mechanism of frequency domain optical storage were studied on a highly-efficient organic photon-gated spectral hole burning material Zn-tetrabenzoporphyrin/crotonic acid/phenoxy resin (ZnTBP/CA/PhR) film. Extremely deep holes were burnt on the broat Q(0,0) band. Data writing, reading,erasing and longterm storage at 4.2 K were demonstrated. Photo-product was detected and laser induced donor-acceptor electron transfer was evidenced responsible for the hole formation.