We analyzed in detail the status quo of lake water color remote sensing from some aspects of satellite sensor, atmospheric correction, optical properties measurement, bio-optical model, radiative transfer model for the waters, and water quality parameter retrieval approach. It has a great difficulty to have practical application of water color remote sensing at a regional scale at present, depending on the complex components of lake water and on the inconsistency between satellite sensor and its actual demand from water quality monitoring. The progress in some key problems for lake water color remote sensing is still small, and there is a long way to go in applications of lake water color remote sensing. However, to be greatly pleasure, the satellite sensor and water color parameter retrieval approach are developing and making progresses, and the application in the future is hopeful.