Multilayer thin film based structural color filters have potential applications in various fields including displaying, color printing, aesthetic decoration and photovoltaics, thanks to their advantages of high purity, high brightness and long-term stability. In addition, by their simple structure, these planar multilayer thin films are compatible with mass production. This review summarizes recent progress of color filters based on multilayer thin films. Two typical device designs and their underlying working principles are elaborated. Different fabrication techniques including magnetron sputtering, electron beam evaporation, and electrochemical deposition, as well as various applications in colored solar cells, color printing, reflective displays are surveyed in detail. We conclude the review by discussing the prospects of multilayer thin film based structural color filters.