Color vision is conventionally defined as the ability of animals to reliably discriminate among objects and lights based solely on differences in their spectral properties. Although the nature of color vision varies widely in different animals, a large majority of all vertebrate species possess some color vision and that fact attests to the adaptive importance this capacity holds as a tool for analyzing the environment. In recent years dramatic advances have been made in our understanding of the nature of vertebrate color vision and of the evolution of the biological mechanisms underlying this capacity. In this chapter I review and comment on these advances.