In this paper, we propose an efficient blind watermarking algorithm using wavelet transform. The proposed algorithm inserts watermark into the high frequency subbands that were transformed by 1-level wavelet transform of original image. Watermark insertion is achieved by exchanging each of the corresponding coefficients in the HL, LH, and HH, subbands according to the inserted watermark value. And watermark is extracted by the relation of wavelet coefficients without original image. Experimental results demonstrate that watermarked image has a good quality in terms of imperceptibility and is robust against various attacks.