The invention provides a preparation method of colorful titanium dioxide, comprising the following steps: a) dispersing and pulping titanium dioxide with water into slurry the pH value of which is 3.0-4.0 and the concentration of which is 100-150g/L; b) under the conditions that the pH value is 3.0-4.0 and the temperature is 70-90 DEG C, adding soluble molysite solution to the slurry; c) keeping the temperature of the slurry for 30-60 minutes; d) adjusting the pH value of the slurry to 4.0-5.0, and keeping warm for 30-60 minutes; and e) cooling the slurry to be below 60 DEG C, filtering and washing with water to obtain a filter cake so as to form the colorful titanium dioxide. The method can be used for preparing the colorful titanium dioxide pigment which has even coloration and does not generate color delamination.