diff --git a/__init__.py b/__init__.py
index 5a084814d..20c89c4b8 100644
--- a/__init__.py
+++ b/__init__.py
@@ -12,7 +12,7 @@
 from .fast64_internal.oot.props_panel_main import OOT_ObjectProperties
 from .fast64_internal.utility_anim import utility_anim_register, utility_anim_unregister, ArmatureApplyWithMeshOperator
 
-from .fast64_internal.f3d.f3d_material import mat_register, mat_unregister
+from .fast64_internal.f3d.f3d_material import mat_register, mat_unregister, check_or_ask_color_management
 from .fast64_internal.f3d.f3d_render_engine import render_engine_register, render_engine_unregister
 from .fast64_internal.f3d.f3d_writer import f3d_writer_register, f3d_writer_unregister
 from .fast64_internal.f3d.f3d_parser import f3d_parser_register, f3d_parser_unregister
@@ -175,6 +175,7 @@ class Fast64Settings_Properties(bpy.types.PropertyGroup):
         name="Prefer RGBA Over CI",
         description="When enabled, fast64 will default colored textures's format to RGBA even if they fit CI requirements, with the exception of textures that would not fit into TMEM otherwise",
     )
+    dont_ask_color_management: bpy.props.BoolProperty(name="Don't ask to set color management properties")
 
 
 class Fast64_Properties(bpy.types.PropertyGroup):
@@ -323,6 +324,8 @@ def upgrade_scene_props_node():
 
 @bpy.app.handlers.persistent
 def after_load(_a, _b):
+    if any(mat.is_f3d for mat in bpy.data.materials):
+        check_or_ask_color_management(bpy.context)
     upgrade_changed_props()
     upgrade_scene_props_node()
     resync_scene_props()
diff --git a/fast64_internal/f3d/f3d_material.py b/fast64_internal/f3d/f3d_material.py
index 2563aaa85..527533229 100644
--- a/fast64_internal/f3d/f3d_material.py
+++ b/fast64_internal/f3d/f3d_material.py
@@ -3,6 +3,7 @@
 from bpy.types import (
     Attribute,
     Context,
+    Event,
     Image,
     Light,
     Material,
@@ -1693,7 +1694,7 @@ def input_update_callback(self: Material, context: Context):
 
 
 def update_node_values_of_material(material: Material, context):
-    nodes = material.node_tree.nodes
+    check_or_ask_color_management(context)
 
     update_blend_method(material, context)
     if not has_f3d_nodes(material):
@@ -1705,6 +1706,8 @@ def update_node_values_of_material(material: Material, context):
 
     set_output_node_groups(material)
 
+    nodes = material.node_tree.nodes
+
     if f3dMat.rdp_settings.g_tex_gen:
         if f3dMat.rdp_settings.g_tex_gen_linear:
             nodes["UV"].node_tree = bpy.data.node_groups["UV_EnvMap_Linear"]
@@ -2179,7 +2182,6 @@ def has_f3d_nodes(material: Material):
 @persistent
 def load_handler(dummy):
     logger.info("Checking for base F3D material library.")
-
     for lib in bpy.data.libraries:
         lib_path = bpy.path.abspath(lib.filepath)
 
@@ -2440,6 +2442,76 @@ def reloadDefaultF3DPresets():
             update_preset_manual_v4(material, presetNameToFilename[material.f3d_mat.presetName])
 
 
+def check_or_ask_color_management(context: Context):
+    scene = context.scene
+    fast64_props: "Fast64_Properties" = scene.fast64
+    fast64settings_props: "Fast64Settings_Properties" = fast64_props.settings
+    view_settings = scene.view_settings
+    # Check if color management settings are correct
+    if not fast64settings_props.dont_ask_color_management and (
+        scene.display_settings.display_device != "sRGB"
+        or view_settings.view_transform != "Standard"
+        or view_settings.look != "None"
+        or view_settings.exposure != 0.0
+        or view_settings.gamma != 1.0
+    ):
+        bpy.ops.dialog.fast64_update_color_management("INVOKE_DEFAULT")
+
+
+class UpdateColorManagementPopup(Operator):
+    bl_label = "Update Color Management"
+    bl_idname = "dialog.fast64_update_color_management"
+    bl_description = "Update color management settings to help material preview accuracy"
+    bl_options = {"UNDO"}
+
+    already_invoked = False  # HACK: used to prevent multiple dialogs from popping up
+
+    def invoke(self, context: Context, event: Event):
+        if UpdateColorManagementPopup.already_invoked:
+            return {"FINISHED"}
+        UpdateColorManagementPopup.already_invoked = True
+        return context.window_manager.invoke_props_dialog(self, width=400)
+
+    def draw(self, context: Context):
+        col = self.layout.column()
+        multilineLabel(
+            col,
+            (
+                (
+                    f'The color management settings for the current scene "{context.scene.name}"\n'
+                    # use is_library_indirect to not count the scene from f3d_material_library.blend and other "external" scenes
+                    if len([_s for _s in bpy.data.scenes if not _s.is_library_indirect]) >= 2
+                    else "The color management settings\n"
+                )
+                + "will cause inaccurate preview compared to N64.\n"
+                + "Would you like to update it?"
+            ),
+            icon="INFO",
+        )
+        fast64_props: "Fast64_Properties" = context.scene.fast64
+        fast64settings_props: "Fast64Settings_Properties" = fast64_props.settings
+        col.prop(fast64settings_props, "dont_ask_color_management", text="Don't ask again")
+
+    def cancel(self, context: Context):
+        UpdateColorManagementPopup.already_invoked = False
+
+    def execute(self, context):
+        try:
+            scene = context.scene
+            scene.display_settings.display_device = "sRGB"
+            scene.view_settings.view_transform = "Standard"
+            scene.view_settings.look = "None"
+            scene.view_settings.exposure = 0.0
+            scene.view_settings.gamma = 1.0
+            self.report({"INFO"}, "Updated color management settings.")
+            return {"FINISHED"}
+        except Exception as exc:
+            raisePluginError(self, exc)
+            return {"CANCELLED"}
+        finally:
+            UpdateColorManagementPopup.already_invoked = False
+
+
 class CreateFast3DMaterial(Operator):
     bl_idname = "object.create_f3d_mat"
     bl_label = "Create Fast3D Material"
@@ -4404,6 +4476,7 @@ def draw_f3d_render_settings(self, context):
 
 
 mat_classes = (
+    UpdateColorManagementPopup,
     UnlinkF3DImage0,
     UnlinkF3DImage1,
     DrawLayerProperty,