To inhibit some side reactions in the production of Lyocell fiber, it is usually necessary to add a stabilizer into the spinning dope. In this report, the effects of several stabilizers on the spinning dope are investigated using rheometry, viscometry, and UV spectroscopy, and the resulting Lyocell fibers are thoroughly analyzed. The results indicate that 2,4,5,7,8-pentamethyl-4-hydro-1,3-benzodioxin-6-ol (PBD) has the best comprehensive effect among stabilizers used individually, but that butylated hydroxytoluene (BHT) has the least impact on the color of spinning dope and resulting fibers. Overall, compound stabilizers are more effective than individual stabilizers. The compound stabilizer comprising BHT:PBD = 1:1 influenced the color of spinning dope the least, so the obtained fibers had the highest whiteness. The compound stabilizer comprising PG:PBD = 9:1 (PG = propyl gallate) had the most significant stabilizing effect on spinning dope, and the obtained fibers had the greatest breaking strength.