A color image holographic watermarking algorithm based on DCT-DWT was proposed. In order to ensure the security of watermark, the watermark information was modulated by double random phase plates and generated into a hologram watermark; meanwhile, the carrier image's L vector in Lab space was partitioned into 4 × 4 blocks, which were transformed by DCT. The low frequency components were extracting from each matrix to form a new matrix, which was decomposed by DWT. The holographic watermark information was embedded into the low-frequency wavelet coefficients. Experimental results showed that the watermarking algorithm based on DCT-DWT is invisible, and robust to common attacks.