Background and Aims Microoxygenation (MOX) is widely used in winemaking. Its impact, however, on Pinot Noir wines has not been well documented. We investigated the influence of MOX on colour parameters and on the anthocyanin and polymeric pigment concentration of a young Pinot Noir wine. The relationship between MOX, yeast growth and acetaldehyde production was also explored. Methods and Results Microoxygenation was applied before or after malolactic fermentation (MLF), and at two oxygen doses 10.8 and 52.4 mg/(L ·month), for 30 days. The end result was reported after dissolved oxygen was depleted and 90 mg/L SO2 was added. Microoxygenation induced a higher yeast growth and acetaldehyde production, where the latter was associated with both yeast metabolism and chemical oxidation. A larger loss in total anthocyanins and malvidin‐3‐glucoside occurred under MOX but absorbance at 520 nm and colour intensity were higher. With the higher oxygen dose, MOX promoted the formation of large polymeric pigments. Conclusions Acetaldehyde formation was strongly induced by MOX, contributing to reactions between anthocyanins and acetaldehyde forming pigments in the red spectrum. Between MOX treatments, only slight variation was found for each parameter, indicating a less important effect of the timing and dosage of MOX on the young Pinot Noir wine than anticipated from prior work. Significance of the Study Microoxygenation caused a significant impact on the colour development of light‐coloured Pinot Noir wine, increasing the colour intensity.