Plasmonic color filtering and color printing have attracted considerable attention in recent years due to their supreme performance in display and imaging technologies. Although various color‐related devices are designed, so far very few studies have touched the topic of dynamic color generation. In this article, dynamic color generation is demonstrated by integrating plasmonic nanostructures with vanadium dioxide based on its tunable optical properties through insulator–metal transition. Periodic arrays of silver nanodisks on a vanadium dioxide film are fabricated to realize different colors, relying on the excitation of localized and propagating surface plasmons, and Wood's anomaly. By tuning spatial periodicity of the arrays and diameter of the silver nanodisks, various colors can be achieved across the entire visible spectrum. Further, using insulator–metal transition of vanadium dioxide, the colors can be actively tuned by varying temperature. The approach of dynamic color generation based on the phase transition of vanadium dioxide can easily realize diverse color patterns, which makes it beneficial for display and imaging technology with distinct advantages of multifunctionality, flexibility, and high efficiency. Dynamic color generation is realized by integrating plasmonic nanostructures with vanadium dioxide based on its tunable optical properties through insulator–metal transition. Various colors can be designed across the visible spectrum via adjusting the spatial periodicity and nanodisk diameter of the silver‐nanodisk array, and the colors can be tuned dynamically by varying the temperature.