This paper proposed a novel blind color watermarking algorithm based on self-adaptation of wavelet contrast and HVS speciality. It mainly includes the self-adaptation calculation of the factor of embedding intensity on the basis of wavelet contrast and HVS speciality; color watermarking embedding and blind extracting algorithm (using Arnold transform, interweaving and BCH coding technology). Experiments of attack and non-attack were carried out in the Matlab 6.5. The experimental results show that the algorithm has stronger invisibility and robustness on non-attack. It has better robustness on the common watermarking attack such as noise adding, middlefilter, croping, JPEG compression and so on; it has higher value on the multimedia copyright protection.