The effects of pH value, preservatives, metal ions, redox, and food ingredients on the stability of purple corn anthocyanin were studied. And the different color, preservation rate, and degradation mechanism of the purple corn anthocyanin under different pH value were also investigated. The results indicated that: the color of the purple corn anthocyanin changed from red to blue with the increase of pH value. The anthocyanin showed high stability when mixed with sodium benzoate or sorbic acid. Different metal ions, different redox, different food ingredients had different influence in absorbance of the purple corn anthocyanin, but in varying degrees. The optimum pH value for storage of anthocyanin was 2 to 3 and the anthocyanin degradation followed first-order reaction kinetics.