This study proposes a method to create a dynamic color hologram by using the coding method. According to the colorimetric principle, a color object can be resolved into three primary color objects. Thus, when we create a dynamic color hologram, we can regard every object as three primary color objects once we obtain the color and three-dimensional coordinate data of the objects. Coordinate data concerning the behavior of the three primary color objects are coded by the relationship between the objects and their hologram images. Therefore, when the three monochromatic holograms are calculated on a plane, they reappear due to conjugate light, and overlap at points in the plane where the color object had been located. Three line-monochromatic Fresnel holograms with stereoscopic image pairs are then computed according to the theory of light propagation and the relationship between object and image. The overlapping images experience interference due to the reference light to form a dynamic color hologram. Experiments showed that the proposed method can simplify the creation of high-quality dynamic color histograms.