The work aims to ferment the fresh extruded rice with red yeast to prepare red yeast fresh extruded rice and develop fresh extruded rice products and analyze the influence of different culture conditions on color value of red yeast fresh extruded rice, thus solving the problem of easy oxidation and moisture absorption of fresh extruded rice. The fresh extruded rice was used as the solid culture substrate to prepare the red yeast fresh extruded rice with traditional solid state fermentation method and analyze the influence of culture temperature, water amount, pH, content of exogenous nitrogen and culture time on the color value of pigment of red yeast fresh extruded rice. The color value of alcohol-soluble pigment in fresh rice was significantly higher than that of water-soluble pigment. Water content had little influence on pigment accumulation. At 30 ℃, the color values of alcohol-soluble orange, yellow and red pigments were as high as 298.34, 186.35, 230.09 U/g, respectively. Water-soluble pigments had the highest color value when pH=4.0, while alcohol-soluble pigments had the highest color value when pH=7.0. When the color value of alcohol and water-soluble pigment was the highest, the amount of exogenous nitrogen was 0.9% and 0.5%, respectively. Moreover, the color value of alcohol-soluble pigment in red yeast fresh extruded rice was the highest at 6 d, while the water-soluble pigment reached the highest at 7 d. Exogenous nitrogen content, pH value and culture time have great influence on water solubility and alcohol solubility of red yeast fresh extruded rice.