We present a new optimal watermarking scheme based on discrete wavelet transform (DWT) and singular value decomposition (SVD) using multiobjective ant colony optimization (MOACO). A binary watermark is decomposed using a singular value decomposition. Then, the singular values are embedded in a detailed subband of host image. The trade-off between watermark transparency and robustness is controlled by multiple scaling factors (MSFs) instead of a single scaling factor (SSF). Determining the optimal values of the multiple scaling factors (MSFs) is a difficult problem. However, a multiobjective ant colony optimization is used to determine these values. Experimental results show much improved performances of the proposed scheme in terms of transparency and robustness compared to other watermarking schemes. Furthermore, it does not suffer from the problem of high probability of false positive detection of the watermarks.