Abstract: A new and improved bleaching and finishing composition for bleaching and finishing a solid substrate includes a first component blend which includes a quantity of a latex resin and a quantity of a bleaching solution. A second component blend includes a quantity of a latex resin, a quantity of an alcohol, a quantity of water, a quantity of a substrate treating material, and a quantity of an alkalizing agent. The first component blend and the second component blend are maintained separated from each other in storage, and the first component blend and the second component blend may be mixed together prior to use on the substrate. Preferably, the substrate is wood. The second component blend may also include a quantity of a coloring agent for tinting the substrate to a desired shade of color. Also, a method is provided for bleaching and finishing a solid substrate.