Because the embedded watermark of luminance component guarantees the extraction of ownership information when the color image is converted to gray scale image, the information of ownership right as to the luminance component is embedded in the luminance-chrominance color space such as YCbCr. Therefore, this paper proposes watermark embedding, extraction and authentication algorithm of color image. which considers the device and performance of multimedia contents service by focusing on the robustness and invisibility of watermark. The color image is converted from RGB color space to YCbCr color space, and then the properties of each component of Y(Luminance), Cb(Color Differences) and Cr(Color Differences) are considered in order to embed, extract and certify multi-level watermark in the frequency domain based on the wavelet. As a result, it can guaranteed the robustness for the JPEG compression and invisibility of watermark for multi-level.