The aim of the study was to assess the color matching ability and color stability of a single-shade resin-based composite (Omnichroma—OM) in comparison to a conventional dental composite. One hundred and sixty lower molar acrylic teeth in four different shades (B1, B2, A3, and C3) were prepared with class I cavities. Eighty teeth were divided into two groups based on the two resin composite materials (OM and Filtek Z-350 (FT)) for cavity restoration. Three groups were included in the color matching assessment, namely Gp 1-FT, Gp 2-OM-light cured (C), and Gp 3-OM-uncured (UC) groups. The color assessment was performed prior to cavity restoration and after cavity filling and before and after light curing to detect color matching. The 80 remaining teeth were restored with OM (n = 40) and FT (n = 40); half (n = 40) were submerged in coffee and the other half (n = 40) were submerged in cola for 2 weeks. The color stability was assessed by calculating material color (spectrophotometry) changes (∆E) before and after staining in immersion medium. The means and standard deviations of the ∆E values relating to color matching and color stability (stain resistance) among the study groups were analyzed using ANOVA and Tukey’s post hoc test. FT showed significantly better color matching (lower ΔE) in comparison to OM-UC specimens for shades B1, B2, and A3 (p < 0.01). Regarding the color stability in cola, the FT samples showed significantly lower ΔE values (indicating better color stability) compared to OM samples for all four shades (p < 0.01). The ΔE values of OM and FT samples in coffee were comparable (p > 0.01), showing comparable color stability. The color matching ability of the single-shade resin composite (OM) was influenced by the tooth color. The conventional resin composite showed better color matching than the single-shade composite (OM). The color stability of the single-shade resin composite (OM) was dependent on the staining medium. The OM composite showed more compromised color stability than the conventional resin composite in cola and comparable color stability to conventional resin composite in coffee.