The present invention relates to a light emitting diode (LED) luminary system (10) comprising a plurality of LED light sources (14) of multiple colors for producing a mixed color light, and means (28) for controlling the LED light sources in accordance with differences between set point values representing a mixed color light having a desired color and first control data representing the color of the mixed color light produced by the LED light sources, the first control data being provided by at least one color sensor (22). The system is characterized by means (30, 32) for deriving the temperature of each LED light source, and means (26) for compensating the set point values in accordance with second control data including the LED light source temperatures. This offers increased color stability for the system. The invention also relates to a method and system for controlling a LED luminary.