Autumn leaf coloration of deciduous plant is one of the remarkable natural events in the world. The coloration is due to two major metabolic pathways: chlorophyll degradation for degreening and anthocyanin biosynthesis for autumn leaves color change. The reasons for leaves to change their colors in autumn and the number of biochemical pathways were reviewed, and associated enzymes and metabolites are identified in this study. In this article, the main reactions in chlorophyll degradation and anthocyanin biosynthesis were illustrated, and recent reports on autumn leaf coloration of deciduous trees were reviewed. Finally, the physiology benefits of leaf coloration and the effects of climate changes were discussed.