We studied the coloration and phase transformation of various iron based pigment with cobalt substitution method and heat treatment. First, we synthesized well defined one dimension β-Fe/CoOOH nanorods using the solid solution method. Yellowish β-Fe/CoOOH nanorods were transformed into reddish intermediate states and, finally, black CoFe2O4 pigments was obtained. Divalent cobalt ions easily occupied tetrahedral sites. The prepared pigments were well characterized in terms of physical properties by using UV-vis, CIE Lab color parameter measurements, SEM (scanning electron microscopy) and XRD (powder X-ray diffraction). In addition, the magnetization property of the prepared CoFe2O4 pigment was confirmed by VSM (vibrating sample magnetometer).