Objective To provide scientific basis for the development and utilization of edible pigment Monascus red， the analysis of its key components and toxicological evaluation were carried out.Methods Identification test and physicochemical indexes test were carried out based on the samples according to the method in National food safety standard GB 1886.181—2016. The content of citrinin （CIT） and Monacolin K were detected through high performance liquid chromatography （HPLC）. UPLC-Orbitrap-MS² were used for chemical composition and content determination， in which the molecular structure was also characterized. The 14-day oral toxicity test of SD rats was carried out， based on the acute oral toxicity test of Monascus red by the limited method.Results The quality and specification of test samples conformed to the provisions of China National Food Safety Standard. The content of CIT and Monacolin K was 0.030 8 mg/kg （converted as one color value） and 0.166 mg/g. Twenty compounds were separated in Monascus red by UPLC-Orbitrap-MS²， red pigment， orange pigment and yellow pigment of it accounted for 88.38%， 2.04% and 5.96%， respectively. The results of acute oral toxicity showed that Monascus red was innocuous （LD₅₀>20 g/kg·BW）. In the 14-day repeated oral dose toxicity test， compared with the control group， rats in 5 g/kg·BW dose group exhibited no significant differences in the general clinical observation， growth and development， hematology， blood biochemistry， routine urine detection， gross anatomy，organ weight，organ-to-body ratio， and histopathological examinations.Conclusion Monascus red is composed of multiple components characterized by red pigments. There is no obvious toxic effects found in the preliminary safety evaluation， which can provide reference for further long-term research.