The invention relates to a colored profiled polyester multifilament fiber with stable dimension and a preparation method thereof. The preparation method comprises the following steps: adjusting contents of polyester, pigment masterbatch and an additive in a fusant according to a certain proportion, drying and dehydrating, forming after melting, extrusion, spinning and cooling, and obtaining finished filament after oiling, coiling, heating, tensioning, heat setting, inspection and grading. The fiber can be prepared with conventional spinning equipment, has even multifilament bundle yarn and even color distribution, can be widely applied to fields of clothing, decoration and industry. Fabric is smooth, is characterized by soft luster, high breaking strength and low breaking elongation, can ensure stable geometric dimension of the fabric without easy deformation; and the fiber has the advantages of good fabric elastic resilience, less creep and relaxation and low boiling water shrinkage, and can improve the stability due to hard deformation at high temperature.