Subsea pipeline corrosion is considered as a severe problem in offshore oil and gas industry. It directly affects the integrity of the pipeline which further leads to cracks and leakages. At present, subsea visual inspection and monitoring is performed by trained human divers; however, offshore infrastructures are moving from shallow to deep waters due to exhaustion of fossil fuels. Therefore, inhospitable underwater environmental conditions for human diver demand imaging-based robotic solution as an alternate for visual inspection and monitoring of subsea pipelines. However, an unfriendly medium is a challenge for underwater imaging-based inspection and monitoring activities due to absorption and scattering of light that further leads to blur, color attenuation, and low contrast. This paper presents a new method for subsea pipeline corrosion estimation by using color information of corroded pipe.