A composition and method are provided for coloring and odorizing live bait such as minnows and the like which include dispersing a biological stain, an alkaline agent, a salt, and a scent attractant including anise, methionine, and soybean oil, in a preferably aqueous carrier medium. The bait is immersed in the solution for a period of time dependent on the degree and length of time of desired color and scent. The active ingredients preferably comprise no more than about 0.15% by weight of the total solution. Also disclosed is a pressed tablet, preferably an effervescing tablet, which disperses the active ingredients upon immersion in the carrier medium.