In this article, we introduce the annihilator graph of the ring C P (X), denoted by AG(C P (X)) and observe the effect of the underlying Tychonoff space X on various graph properties of AG(C P (X)). AG(C P (X)), in general, lies between the zero divisor graph and weakly zero divisor graph of C P (X) and it is proved that these three graphs coincide if and only if the cardinality of the set of all P-points, X P is ≤ 2. Identifying a suitable induced subgraph of AG(C P (X)), called G(C P (X)), we establish that both AG(C P (X)) and G(C P (X)) share similar graph theoretic properties and have the same values for the parameters, e.g., diameter, eccentricity, girth, radius, chromatic number and clique number. By choosing the ring C P (X) where P is the ideal of all finite subsets of X such that X P is finite, we formulate an algorithm for coloring the vertices of G(C P (X)) and thereby get the chromatic number of AG(C P (X)). This exhibits an instance of coloring infinite graphs by just a finite number of colors. We show that any graph isomorphism ψ : AGas a graph and a graph isomorphism φ : G(C P (X)) → G(C Q (Y )) can be extended to a graph isomorphism ψ : AG(C P (X)) → AG(C Q (Y )) under a mild restriction on the function φ. Finally, we show that atleast for the rings C P (X) with finitely many P-points, so far as the graph properties are concerned, the induced subgraph G(C P (X)) is a good substitute for AG(C P (X).