Watermarking is the process of embedding digital information into any multimedia data such as an image, audio or video file in such a way that intruder cannot be able to trace the signal to protect copyright of intellectual property of the owners. In this paper, a new hybrid watermarking algorithm is proposed by using discrete wavelet transform (DWT) and slant let transform (SLT) which are the most robust to attack rather than least significant bit (LSB) for the protection of digital Images. Embedding watermark is accomplished in still images (JPEG) true color in high frequency sub bands by combining the two transforms. The watermark is applied to many images, and the results showed that the proposed algorithm offers good performance and has good robustness against different types of attacks and it does not affect the transparency of the cover image.