The Chinese tallow tree (Triadica sebifera) is an economically important plant on account of its ornamental value and oil‐producing seeds. Leaf colour is a key characteristic of T. sebifera, with yellow‐, red‐ and purple‐leaved varieties providing visually impressive displays during autumn. In this study, we performed metabolomic and transcriptomic analyses to gain a better understanding of the mechanisms underlying leaf colour development in purple‐leaved T. sebifera at three stages during the autumnal colour transition, namely, green, hemi‐purple, and purple leaves. We accordingly detected 370 flavonoid metabolites and 10 anthocyanins, among the latter of which, cyanidin‐3‐xyloside and peonidin‐3‐O‐glucoside were identified as the predominant compounds in hemi‐purple and purple leaves. Transcriptomic analysis revealed that structural genes associated with the anthocyanin biosynthetic pathway, chlorophyll synthesis pathway and carotenoid synthesis pathway were significantly differential expressed at the three assessed colour stages. Additionally, transcription factors associated with the MYB‐bHLH‐WD40 complex, including 22 R2R3‐MYBs, 79 bHLHs and 44 WD40 genes, were identified as candidate regulators of the anthocyanin biosynthetic pathway. Moreover, on the basis of the identified differentially accumulated anthocyanins and key genes, we generated genetic and metabolic regulatory networks for anthocyanin biosynthesis in T. sebifera. These findings provide comprehensive information on the leaf transcriptome and three pigments of T. sebifera, thereby shedding new light on the mechanisms underlying the autumnal colouring of the leaves of this tree.