Abstract: A colored polymer/wood composite, e.g., plastic lumber, formed by shaping a blend of a thermoplastic polymer and wood particles, e.g., wood flour, which has been colored by mixing with an aqueous dispersion of a pigment or an aqueous solution of a dye as a pretreatment, so that the pigment particles or dye are thoroughly absorbed into the fiber matrix of the wood particles, followed by drying. Preferably, the foregoing pigment dispersion or dye solution used to pretreat the wood particles also contains an effective amount of at least one member selected from the group consisting of light stabilizers, U.V. absorbers, antimicrobial agents including biocides, and antioxidants. The composite has a reduced tendency to fade or whiten with time.