Hi AtleEriksen, the cable Is actually made for the PS2 & PS3! Therefore fully compatible with the PS2. Just follow the following instructions...
1. Set up your PlayStation 2 console to output "Component Video". This is achieved by selecting "System Configuration" from the console's Startup Menu. Select Y Cb / Pb Cr / Pr from the "Component Video Out" tab.
2. Make sure your console and TV / Display are switched off and then connect the cable between your console and TV / Display.
3. You may have to manually select the correct input channel for your display device, consult you instruction manual for details.