In order to develop the economic and environmental water-soluble black coloring agent, some adequate chemical mixtures were mixed and this solution was applied to coat quenched and tempered 51B20 steel bolt. Some basic properties of the solution and characteristics of the coated film in addition to the corrosion resistance were investigated. The developed 100 kg of water-soluble black coloring agent solution was a chemical mixture consisted of 10 kg of aqueous coloring agent, 40 kg of surface active agent, 0.3 kg of anti-foam agent and $50{ell}$ of water. The coated film of the bolt was composed of hard layer of about $2{mu}m$ and the disbondable soft layer of about $4{mu}m$ above the hard layer. Many surface active agents peaks and a few hydrophilic peaks were observed in the coated film. Surface roughness value of the coated bolt was lower than that of the non-coated bolt. Corrosion resistance of the coated bolt considerably improved and also relatively showed a good polarization resistance at test condition of $40^{circ}C$ colorizing temperature and 5% the solution concentration in 3% NaCl anodic polarization test. Initial appearance time of the surface rust was greatly retarded owing to the coated film in salt spray test.