The color-coated steel coil is a high value-added product for steel enterprises, and its production process is affected by multiple factors. How to provide operators with appropriate scheduling schemes is the key to improve the economic benefits of enterprises. In this article, for the scheduling of a single color-coating turn, we establish a multiobjective optimization model that minimizes the number of insertions of transition coils, the thickness jump penalty of adjacent coils, and the switching times of the backup rollers. To address this problem, we propose a piecewise coding approach to ensure that each individual meets the production constraints. Besides, a multiobjective evolutionary algorithm (MOEA) based on decomposition and dynamic local search (D-DLS) strategy is proposed (MOEA/D-DLS). More specifically, the color-coating multiobjective scheduling problem is decomposed into a series of single-objective subproblems and optimized simultaneously. Furthermore, based on the speed of evolution of these subproblems, local search is performed on partial subproblems dynamically. The proposed algorithm is used to solve eight multiobjective scheduling problem instances of color-coating with different scales, and the experimental results demonstrate that the proposed algorithm is very effective compared with four state-of-the-art algorithms. Note to Practitioners —Practical production scheduling problems in iron & steel industry generally need to optimize conflicting objectives simultaneously, which is very hard for practitioners to make appropriate decisions with manual experience. The decomposition-based multiobjective evolutionary algorithm (MOEA) can help practitioners of color-coating scheduling to achieve a set of Pareto optimal decisions with good distribution and tradeoff among three objectives. Since the scheduling of the other production lines shares many similarities with our problem, the proposed model and algorithm can also be applicable to these problems.