Dragonflies are colorful diurnal insects with large compound eyes. Because they visually recognize conspecific and heterospecific individuals, their body color plays essential roles in ecology and reproductive biology. Here I introduce the recent topics of molecular mechanisms underlying color vision and color formation in dragonflies. Complex wing color polymorphism is recognized among the two closely related Japanese Mnais species, presumably due to stepwise character displacement to avoid interspecific mating. We discovered an extraordinary large number of visual opsin genes by RNA sequencing of 12 dragonfly species. Manual correction after de novo assembly was crucial for determining the exact number and sequence of opsin genes. Each opsin gene was differentially expressed between the adult and larva, as well as between dorsal and ventral regions of adult compound eyes, highlighting the behavior, ecology, and adaptation of aquatic larva to terrestrial adult. The repertoire of opsin genes differed among dragonfly species, plausibly involved in the diversity of the habitat and behavior of each species. We also found that sex-specific yellow-red color transition in red dragonflies is regulated by redox changes in ommochrome pigments, which unveils a previously unknown molecular mechanism underlying body color change in animals. Establishment of the methods of gene functional analyses in dragonflies is desired for future studies.