Paper in its applications must satisfy a number of criteria, and of these, permanence and durability are the most important ones. Unfortunately, modern papers produced from wood pulps contain a high quantity of vulnerable cellulose and hemicellulose that have been oxidized during the pulping processes. They are relatively unstable toward light, heat, moisture, air, and other environmental factors. In addition, because of the shortage and high cost of raw materials, modern "high-yield" papers contain oxidized cellulose and hemicellulose; they also incorporate a considerable amount of lignin and extraneous material from wood, which further impairs the paper quality-permanence and durability. In this chapter, discoloration or yellowing of modern papers as a consequence of the oxidative reactions of cellulose, hemicellulose, and lignin as well as color stabilization is reviewed. Suggestions for further research in color stabilization are made.