To obtain paper with watermark without forming the watermark at the papermaking step by a simple process by allowing water to penetrate into a transparent paper obtained by passing the paper to a nipped part between metal rolls under a specific linear load, to provide opaque patterned parts.

This paper with watermark is obtained by allowing water to penetrate into a transparent paper obtained by passing the paper having 30-200 g/m2 unit weight to a nipped part composed of a metal roll at 20-300°C and a metal roll under a condition of 500-3,000 kg/cm linear load, to provide opaque patterned parts. The obtained paper has ≥8% difference of opacities between the transparent part and the opaque part measured based on ISO 2471.