Methods for improving color properties of triethanolamine, and triethanolamine compositions treated thereby, are disclosed, wherein the methods comprise: (a) providing a composition comprising triethanolamine; and (b) contacting the composition with an acid component and a basic component; wherein the acid component comprises an acid selected from the group consisting of phosphorous acid, hypophosphorous acid and mixtures thereof; and wherein the basic component comprises a compound selected from the group consisting of alkali metal hydroxides, alkaline earth metal hydroxides, ammonium hydroxides according to general formula (I), and mixtures thereof: [R.sup.1R.sup.2R.sup.3(2-hydroxyethyl)ammonium] hydroxide (I) wherein R.sup.1, R.sup.2 and R.sup.3 each independently represents a C.sub.1-30 alkyl or a C.sub.2-10 hydroxyalkyl; with the proviso that where the basic component comprises an alkali metal hydroxide, the molar ratio of acid component: basic component is 1:0.1 to 1:1, and where the basic component comprises an alkaline earth metal hydroxide, the molar ratio of acid component: basic component is 1:0.05 to 1:0.5.