To improve the accuracy and practicality of the intelligent color-matching application of wood dyeing technology, Fraxinus mandshurica veneer was selected as the dyeing material. First, based on the Friele model and Stearns–Noechel model, the model parameters were cyclically assigned to calculate the optimal fixed parameter values and predictions. Then, particle swarm algorithm was used to optimize two algorithm models, the obtained reflectance curve was fit, and the color differences were calculated according to the human eye-based CIEDE2000 color difference evaluation standard formula. Last, the two formulas to predict the color difference and spectral reflectance were compared. First, the two optimization algorithms were compared according to the size of the fitted color difference value, and then, the most accurate optimization algorithm was selected. When the model parameters were fixed, the average fitted color difference was 0.8202. After optimizing the Friele model, the average fitted color difference was 0.7287, and after optimizing the Stearns–Noechel model, the average fitted color difference was 0.6482. It was concluded that the improved Stearns–Noechel model based on particle swarm method was more accurate than the Friele model for wood color matching.