In this work, a fast method was proposed for estimating the virgin olive oils (VOOs) carotenoids and chlorophylls concentration using color measurement. The pigment content by conventional spectrophotometry method and CIELAB color (L*, a*, and b*) at different degree of sample thickness (from 5 to 50 mm) of one hundred VOOs were measured. Oil carotenoids and chlorophylls content were correlated with the color parameters for the different oil thickness studied to design the prediction models of the new method. The best regression coefficients (R2) were obtained for multiple linear regression model using the three independent variables (L*, a*, and b*) together measured at 5 mm of oil thickness. The R2 were 0.9679, 0.9515, and 0.9644 for predicting carotenoids, chlorophylls, and total pigments, respectively. External validation of these prediction models was satisfactory (relative error < 0.1). Therefore, this new solvent‐free colorimetric method is a useful method for determination of carotenoids and chlorophylls content in VOOs.