We study the properties of the stellar populations in M81s outermost part, which hereafter we will term the stellar halo, using HST ACS/WFC observations of 19 fields from the GHOSTS survey. The observed fields probe the stellar halo out to a projected distance of ~ 50 kpc from the galactic center. Each field was observed in both F606W and F814W filters. The 50% completeness levels of the color magnitude diagrams (CMDs) are typically at 2 mag below the tip of the red giant branch (TRGB). Fields at distances closer than 15 kpc show evidence of disk-dominated populations whereas fields at larger distances are mostly populated by halo stars. The RGB of the M81s halo CMDs is well matched with isochrones of ~ 10 Gyr and metallicities [Fe/H] ~ -1.2 dex, suggesting that the dominant stellar population of M81s halo has a similar age and metallicity. The halo of M81 is characterized by a color distribution of width ~ 0.4 mag and an approximately constant median value of (F606W - F814W) ~ 1 mag measured using stars within the magnitude range 23.7 < F814W < 25.5. When considering only fields located at galactocentric radius R > 15 kpc, we detect no color gradient in the stellar halo of M81. We place a limit of 0.03+/-0.11 mag difference between the median color of RGB M81 halo stars at ~ 15 and at 50 kpc, corresponding to a metallicity difference of 0.08+/-0.35 dex over that radial range for an assumed constant age of 10 Gyr. We compare these results with model predictions for the colors of stellar halos formed purely via accretion of satellite galaxies. When we analyze the cosmologically motivated models in the same way as the HST data, we find that they predict no color gradient for the stellar halos, in good agreement with the observations.