The invention relates to a contact lens with pearlescent sclera. Pearlescent pigments may be incorporated into one or more regions of a cosmetic contact lens to add a shiny, radiant and iridescent appearance thereto. More particularly, mica based pearlescent pigments coated with an oxide, (for example, titanium dioxide or iron oxide,) incorporated into one or more regions of the contact lens will result in the one or more regions having a natural, wet reflective appearance.