To examine the effects of residual phosphorus content on color reversion and storage stability of corn germ oil, the changes of Lovibond total color and stability of oxidation were determined according to the different storage periods at room and incubating temperature, respectively. The residual phosphorus content and storage temperature had the synergistic effect on color reversion during short time storage. The extent of color change was the greatest when oils were stored for 1.0∼1.5 years at room temperature and thereafter gradually tended to reverse color reversion. It is supposed that the double bonds of carotenoids in oils were oxidized and then turned to the volatiles such as epoxide, ionone, and etc. In contrast, the residual phosphorus content increased oxidation stability of oils. The residual phosphorus content was closely correlated with the color reversion and storage stability, respectively.