A new color image watermarking scheme is presented. The visual characteristics of HVS, multi-resolution of discrete wavelet transform, and color image content information are adopted to classify the wavelet coefficients and find a new JND model. The embedded watermark is processed by Arnold transform and chaotic modulation, which can improve the security of scheme. The combined JND model-guided watermarking scheme provides the maximum strength transparent watermark to compromise the robustness and invisibility. Both better invisibility and robustness work than other algorithms based on HVS are shown in the experimental results.