Fish is rich in proteins and lipids, especially those containing polyunsaturated fatty acids, which made them vulnerable to chemical or microbial changes associated with quality loss. Meat color is one of vital criteria indicating the freshness, quality, and acceptability of the meat. Color of meat is governed by the presence of various pigments such as hemoglobin, myoglobin (Mb), and so on. Mb, particularly oxy-form, is responsible for the bright red color of fish muscle, especially tuna, and dark fleshed fish, while astaxanthin (AXT) directly determines the color of salmonids muscle. Microbial spoilage and chemical changes such as oxidation of lipid/proteins result in the autoxidation of Mb or fading of AXT, leading to undesirable color with lower acceptability. The discoloration has been affected by chemical composition, post-harvesting handling or storage, processing, cooking, and so on . To tackle discoloration of fish meat, vacuum or modified atmospheric packaging, low- or ultralow-temperature storage, uses of artificial and natural additives have been employed. This review article provides information regarding the factors affecting color and other quality aspects of fish muscle. Moreover, promising methodologies used to control discoloration are also focused.