A method of fabricating holographic colored contact lens is provided. A lens-making mold having multiple micro-lines on the peripheral surface is used to fabricate the contact lens and at the same time the micro-line pattern is copied onto the contact lens to form a light interference zone, which causes light waves to break up to produce light diffraction around the eyes, such that a holographic impression of a person's eyes can be created through the lenses. The perceived eyes through the lenses change color when looking from a different angle. This contact lens makes use of grating diffraction principles to impart colors on the eyes of a person wearing the contact lenses, without using any chemical colorants in the lens-making process; therefore wearing such contact lens is much healthier as opposed to a conventional colored contact lens.