There is provided a color-regulating device for illumination. The color-regulating device includes a light-valving structure for adjusting a flux ratio of outgoing light through the light-valving structure to incident light entering the light-valving structure, and a color-adjusting structure having a wavelength-band converting element for changing incident light with a wavelength band into outgoing light with a different wavelength band through the element. Wherein, the light-valving structure and the color-adjusting structure do not overlap on the traveling path of the light emitted from the light source. Mixing the outgoing light of the light source passing through the light-valving structure with the outgoing light of the light source passing through and at least a portion thereof converted by the color-adjusting structure with a different wavelength band yields a color-adjusted light of different color temperature from that of the light source.