As an alternative to unutbu's answer, you can take advantage of the fact that the color bar is another example of the axes in the figure and sets the label font as if you set any y-label.
from matplotlib.pylab import * from numpy import arange pcolor(arange(20).reshape(4,5)) cb = colorbar(label='a label') ax = cb.ax text = ax.yaxis.label font = matplotlib.font_manager.FontProperties(family='times new roman', style='italic', size=16) text.set_font_properties(font) show()

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