diff --git a/scene/gui/color_picker.cpp b/scene/gui/color_picker.cpp
index fe4c91cb569..1f3a9345cf0 100644
--- a/scene/gui/color_picker.cpp
+++ b/scene/gui/color_picker.cpp
@@ -1571,19 +1571,16 @@ void ColorPicker::_pick_button_pressed_legacy() {
 		picker_texture_rect->set_default_cursor_shape(CURSOR_POINTING_HAND);
 		picker_texture_rect->connect(SceneStringName(gui_input), callable_mp(this, &ColorPicker::_picker_texture_input));
 
-		picker_preview = memnew(Panel);
-		picker_preview->set_anchors_preset(Control::PRESET_CENTER_TOP);
-		picker_preview->set_mouse_filter(MOUSE_FILTER_IGNORE);
-		picker_window->add_child(picker_preview);
-
 		picker_preview_label = memnew(Label);
-		picker_preview->set_anchors_preset(Control::PRESET_CENTER_TOP);
+		picker_preview_label->set_anchors_preset(Control::PRESET_CENTER_TOP);
 		picker_preview_label->set_text(ETR("Color Picking active"));
-		picker_preview->add_child(picker_preview_label);
 
-		picker_preview_style_box = (Ref<StyleBoxFlat>)memnew(StyleBoxFlat);
+		picker_preview_style_box.instantiate();
 		picker_preview_style_box->set_bg_color(Color(1.0, 1.0, 1.0));
-		picker_preview->add_theme_style_override(SceneStringName(panel), picker_preview_style_box);
+		picker_preview_style_box->set_content_margin_all(4.0);
+		picker_preview_label->add_theme_style_override(CoreStringName(normal), picker_preview_style_box);
+
+		picker_window->add_child(picker_preview_label);
 	}
 
 	Rect2i screen_rect;
@@ -1625,7 +1622,7 @@ void ColorPicker::_pick_button_pressed_legacy() {
 	}
 
 	picker_window->set_size(screen_rect.size);
-	picker_preview->set_size(screen_rect.size / 10.0); // 10% of size in each axis.
+	picker_preview_label->set_custom_minimum_size(screen_rect.size / 10); // 10% of size in each axis.
 	picker_window->popup();
 }
 
@@ -1648,7 +1645,7 @@ void ColorPicker::_picker_texture_input(const Ref<InputEvent> &p_event) {
 			Vector2 ofs = mev->get_position();
 			picker_color = img->get_pixel(ofs.x, ofs.y);
 			picker_preview_style_box->set_bg_color(picker_color);
-			picker_preview_label->set_self_modulate(picker_color.get_luminance() < 0.5 ? Color(1.0f, 1.0f, 1.0f) : Color(0.0f, 0.0f, 0.0f));
+			picker_preview_label->add_theme_color_override(SceneStringName(font_color), picker_color.get_luminance() < 0.5 ? Color(1.0f, 1.0f, 1.0f) : Color(0.0f, 0.0f, 0.0f));
 		}
 	}
 }
diff --git a/scene/gui/color_picker.h b/scene/gui/color_picker.h
index ad028584b11..59540d9ace0 100644
--- a/scene/gui/color_picker.h
+++ b/scene/gui/color_picker.h
@@ -130,7 +130,6 @@ private:
 	Popup *picker_window = nullptr;
 	// Legacy color picking.
 	TextureRect *picker_texture_rect = nullptr;
-	Panel *picker_preview = nullptr;
 	Label *picker_preview_label = nullptr;
 	Ref<StyleBoxFlat> picker_preview_style_box;
 	Color picker_color;