To improve the robustness of digital watermark, this paper proposed a novel robust watermarking algorithm for color images based on discrete wavelet transformation DWT, SVD and Fibonacci transformation. Firstly, this algorithm adopted the Fibonacci transformation to scramble the original watermark before embedded. Then, it decomposed the R, G, B components of the host color image by 2-level-DWT, and partitioned the obtained sub-bands into non-overlapping blocks of 4×4 pixels and then applied SVD to the blocks. Meanwhile it used the chaotic sequence to select several couples of blocks. Finally, it determined the embedding capacity and the intensity of each component according to the characteristics of human vision system to meet the requirements of invisibility and embedded one bit of watermark by modifying the relative size of the first singular values of one couple blocks. Experimental results show that the proposed algorithm has a good performance in imperceptibility and robustness of watermark.