Pink LCD Monitor Screen - How To Repair LCD Monitor That Has Turned Pink

The monitor color has turned pink because the backlight has become old. Most LCD monitors use a cold cathode fluorescent bulb (CCFL bulb) as the backlight source, powered by an inverter.
When these bulbs become old, they start flickering or giving out a pink-colored light -- which is what you're seeing on your screen right now.
The best (and cheapest) way to fix this problem is to replace the backlight. You can get a case lighting kit cheaply from online stores (15" or 17" based on your monitor size). 

In most cases, you don't need to replace the inverter, so that will save you some extra bucks on the fix.