In order to alleviate the ecological pressure caused by rare earth tailings, this study focuses on the application of ion-adsorbed rare earth tailings in the preparation of functional pigments. By using mechanical grinding and high-temperature calcination, 33 new functionalized red pigments were successfully prepared by doping iron and lanthanum elements. X-ray diffraction (XRD), scanning electron microscopy (SEM), CIE 1976 color space system, and ultraviolet–visible–near-infrared spectrophotometer were used for characterization. The synthesized pigment exhibits a rich color range from light yellow to reddish brown. Compared with commercially available iron red pigments, it exhibits significantly enhanced near-infrared reflectance, excellent acid and alkali resistance, and strong thermal stability up to 900 °C. It is worth noting that pigment P-1-2-1 achieved the best red value (L* = 43.73, a* = +24.07, b* = +15.65) with a maximum near-infrared reflectance of 91 %. Therefore, the utilization of rare earth tailings as raw materials for the preparation of functional pigments has significant effects. This study provides valuable insights for the development of eco-friendly pigments, which not only helps alleviate the urban heat island effect but also promotes the sustainable utilization of rare earth tailing resources, contributing to the achievement of carbon neutrality goals.