In this paper, a watermark embedding scheme based on ghost image encryption and cellular automata transformation is proposed. In this scheme, the watermark forms speckle through different light intensities into a key, and the cellular automata transformation algorithm is embedded into the 3D image. Compared with the traditional watermarking encryption method, this scheme combines ghost imaging and the cellular automata transformation algorithm, which double guarantees and increases the confidentiality of the watermark. The binary computing ghost imaging discussed in this paper saves the storage space of password text and makes the transmission of password text more convenient and faster. Experiments on this method also verify that the watermark-embedded image has higher imperceptibility and higher robustness against attacks, and that the extracted watermark has good integrity.