Monascus pigment is a kind of natural ingredient produced by fermented Monascus sp. Traditionally Monascus was used as substrate for pigments production. In recent years, with the deepen development of research, the agro-industrial waste such as millet, corn, cassava and jackfruit seed were successfully utilized for the production of Monascus pigments. The properties of Monascus pigments were described and the investigation of different substrates fermented by Monascus for pigment production was reviewed in this paper.