How to insert watermark in Excel?

The first way is to insert a word art to mimic a text watermark in current page in Excel.

1. Click Insert > WordArt, and select one of the WordArt style.

2. Put the cursor in working area, and remove the Your Text Here from the new added text box, and enter your words, such as Draft. And then rotate the word art as you need. See screenshot above:

Now you will get a tilted text watermark in current page as above screenshot shows:

3.Export the WordArt as an image.

4. Click the Insert> Header & Footer, and then put the cursor at center section of header, and click the Header & Footer Tools Design tab > Picture button.

5. In the Insert Picture dialog box, find out and select the image you created in the first step.

Then click anywhere in working area except the header, you will get the text watermark in each printed pages, as the following screen shot shows:

Note:
If you have inserted watermark for all printed pages in one worksheet with above method, you can copy this worksheet's page settings to other worksheets in the same workbook easily with Kutools for Excel's Copy Page Setup utility. Stay in the worksheet you have added watermark with above methods, and click Enterprise > Printing > Copy Page Setup, and then configure in the popping up Copy Page Setup dialog box:
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If you have Kutools for Excel installed, you can apply its Insert Watermark feature to quickly insert a text watermark into all printed pages at ease. Please do as follows:

1. Click Kutools > Insert > Insert Watermark.

2. In the opening Insert Watermark dialog box, please check the Text Watermark option, select a type of text watermark from the Text drop down list, specify format for the text watermark as you need, and click the Ok button. See screenshot:

And now the specified text watermark is added into all pages with contents at once.