In recent years, stainless steel surface laser-induced coloring process has become one of the key research hotspots of laser technology due to its simple process, high processing accuracy, easy automation, environmental protection and other advantages. Despite these advantages, challenges such as low color saturation and inadequate color reproducibility persist. This study undertakes a full-factor experiment to delineate the formation of five primary colors on 304 stainless steel surfaces using a laser marking machine. The study correlates the micro-morphology of the experimental samples to validate the coloring mechanism and scrutinizes the causes of color unevenness. Utilizing the outcomes from the full-factor test, an orthogonal test is designed for each color system. Subsequently, SPSS software is employed to conduct a multi-factor analysis of variance (ANOVA), elucidating the impact of process parameters—encompassing laser power, frequency, scanning distance, and speed—on the three-channel values within the HSV color space. The findings provide valuable insights into the regularity and significance of process parameters, offering a practical reference for optimizing laser-induced coloring processes.