We report simultaneous observations of the flaring behavior of the cataclysmic variable star AE Aquarii (AE Aqr). The observations are in Johnson B and V bands. The color-magnitude diagrams (B-V vs. V and B-V vs. B) show that the star becomes more blue as it becomes brighter. In our model, AE Aqr's behavior can be explained with flares (fireballs) with 0.03 ≤ B-V ≤ 0.30, and temperature in the interval 8000 ≤ T ≤ 12000. 1 How to cite this article: Zamanov RK, Latev GY, Boeva S, Ibryamov S, Nikolov GB, Stoyanov KA. The cataclysmic variable AE Aquarii: B-V color of the flares. Astron. Nachr. / AN. 2017;338:598-603.