Systems and methods for improving efficiency in three-dimensional (3D) look-up table (LUT) coding and/or reducing table size of a 3D LUT may be provided. For example, octants associated with the 3D LUT may be provided for color space segmentation and coding may be performed on an octree associated with the octants where coding may include encoding nodes of the octree associated with the octants and corresponding vertices of the 3D LUT belonging to the nodes. Conversion parameters represented by the nodes are lossy coded with reduced precision. The 3D LUT may also be signaled (e.g., based on a sequence and/or picture level).