A color setting apparatus and method for a system for reproducing multimedia data are provided. The apparatus includes a color setting controller for displaying a closed curve band divided into at least two equal-sized sections each containing a different color, and a setting band having at least two sections for indicating change of a set value of each of the colors on a screen, and for changing the set value of a selected color and displaying the changed color according to the changed set value on the screen. The color setting controller increases or decreases the size of the section for indicating change of the set value according to the set value.