In a multi-color heat sensitive recording material comprising a substrate and two or more heat sensitive color-forming layers thereon capable of forming different colors from each other, at least one of the heat sensitive color-forming layers containing a leuco dye and an acidic substance, the recording material characterized in that at least one piperidine derivative represented by the formula [I] ##STR1## wherein R.sub.1 is C.sub.1.about.30 aliphatic group residue which may have C.sub.2.about.20 alkoxycarbonyl group, or C.sub.1.about.30 aliphatic group residue which has ether linkage and oxycarbonyl group; R.sub.2, R.sub.3, R.sub.4, R.sub.5 and X are each methyl group or hydrogen atom; and l is an integer of 1 to 6, is incorporated at the position where a decolorizing function can be effected against the color-forming system comprising a leuco dye and an acidic substance.