The invention relates to graphene modified color paste. The graphene modified color paste is prepared from, by weight, 0.1-5% of graphene, 15-55% of carbon black, 2-25% of functional aids, 2-20% of a dispersing agent and the balance a solvent. By adding the specific amount of graphene into the color paste containing the specific amount of carbon black, the carbon block is attached to the surface of the graphene, dispersion of graphene can be facilitated because of the binding force between the carbon black and the graphene, and the defect that the graphene is not uniform in dispersion after being added into spinning liquid. Besides, the binding force between the specific amount of graphene and the specific amount of carbon black disappears in the spinning process, the functions of graphene in obtained textiles are give play to, and the textiles have the characteristics, such as excellent far infrared performance, bacteria resistance and the bacteriostasis and ultraviolet resistance, of graphene.