The current full-waveform data at a single wavelength can mainly retrieve the geometric attributes of targets along the light path by detecting waveform components, resulting in the lack of spectral or color attribute information. This kind of device relies on a digital camera for acquiring the color information, however, which is inevitably limited by the lighting conditions and geometric registration errors. With the development of multispectral light detection and ranging (LiDAR) or even hyperspectral LiDAR that often utilize a supercontinuum laser source covering the whole visible light band, including red, green and blue bands, the simultaneous acquisition of color and spatial information becomes possible and makes passive imaging data no longer necessary. In this study, we propose a color restoration method for a full-waveform multispectral LiDAR (FWMSL) system. Additionally, we develop a multispectral lognormal function to fit the tailing echoes measured by FWMSL further accurately. Experimental data from our FWMSL system are used to evaluate the performance of the proposed method. The relative standard deviation, correlation coefficient (R²) and color difference ( $\mathsf{\Delta }E$ ) metrics suggest that the color restoration for the full-waveform multispectral data is feasible.