Abstract: Water color represents the most intuitive visible perception of the color of water bodies that is jointly affected by substances such as suspended particulate matter, chlorophyll, and soluble organic matter. Water color is a water environmental parameter with a long history and plays a critical role in research on the ecosystem of inland and nearshore water bodies. With the progress made in colorimetric research, as well as hyperspectral imaging and satellite remote sensing techniques, the colorimetric method of water color has developed. This study systematically reviewed the colorimetric research progress of inland and nearshore water bodies and elaborated on the theories and practical applications of the colorimetric method from the angles of apparent optical properties (AOP) and inherent optical properties (IOP). Moreover, it presented the colorimetric processing method of satellite remote sensing data. The colorimetric method is a technical method for the quantitative expression of water color. It is also an important branch of water color research and an extension and supplement to the study of water color components, with a broad application prospect. To further improve the application of the colorimetric methods in inland and nearshore water bodies, it is necessary to enhance the construction of bio-optical datasets of water bodies in the future. Moreover, colorimetric studies should be conducted in two dimensions, namely AOP and IOP, and it is necessary to intensify research on domestic satellite-based colorimetric methods and increase the types of relevant water color products.