•We evaluated carrot anthocyanins as food colorants and antioxidant agents.•Physicochemical stability analyzed in carrot, grape (GRP), and synthetic (E131) colorants.•Carrot colorants had higher thermal stability than GRP and E131.•Carrot anthocyanins were more stable at low pH and temperature conditions.•Acylated anthocyanins were more stable than non-acylated anthocyanins. As a means to evaluate the potential of carrot anthocyanins as food colorants and nutraceutical agents, we investigated the physicochemical stability and antioxidant capacity of purple carrot extracts under different pH (2.5–7.0) and temperature (4–40 °C) conditions, in comparison to a commercial synthetic (E131) and a natural grape-based (GRP) colorant. During incubation, the colorants were weekly-monitored for various color parameters, concentration of anthocyanins and phenolics, and antioxidant capacity. Carrot colorants were more stable than GRP; and their thermal stability was equal (at 4 °C) or higher than that of E131 (at 25–40 °C). Carrot anthocyanins had lower degradation rate at low pH and temperature, with acylated anthocyanins (AA) being significantly more stable than non-acylated anthocyanins (NAA). Anthocyanins acylated with feruloyl and coumaroyl glycosides were the most stable carrot pigments. The higher stability of carrot colorants is likely due to their richness in AA and -to a lesser extent- copigmentation with other phenolics.