Chinese jujube (Ziziphus jujuba Mill.) fruit are much admired for their unique flavor and high nutritional value. This study tracks changes in skin color and antioxidant activity over six stages (S1 … S6) of fruit development in two cultivars of jujube, ‘Junzao’ and the color mutant ‘Tailihong’. The study records the changing levels of chlorophylls, carotenoids, anthocyanins, and phenolic compounds during fruit development. Contents of chlorophylls, β-carotenes and anthocyanins decreased throughout the developmental stages in two jujube cultivars, while lutein contents decreased at first and then increased to a maximum at S6. The levels of total phenolics, total flavonoids, total flavanols, total anthocyanins, procyanidin B1, procyanidin B2, procyanidin B3, (+)-catechin, quercetin, and ferulic acid are significantly higher in ‘Tailihong’ than in ‘Junzao’ before the onset ripening (before S3). However, after S3 the level differences of these components in the two cultivars are not significant. In both cultivars, antioxidant activity reduces gradually throughout fruit development. Our findings indicate how the skin color of jujube fruit during maturation is due to changes in the levels of flavonoids, carotenoids, and anthocyanins. The color changes are also associated with changes in antioxidant activity.