Disclosed herein is an electronic paper, more particularly to an electronic paper capable of actually realizing full colors. The electronic paper includes upper and lower electrodes made of a transparent material and disposed to face each other; transparent barrier ribs disposed between the upper and lower electrodes to form a plurality of cells; twist balls each having a sphere-shaped structure and received in each of the cells, the twist ball having first and second display regions on a surface thereof and the first and second display regions being colored with different colors and respectively electrified with positive charges and negative charges; and a black matrix layer provided below the transparent barrier ribs, the black matrix layer having a larger width than the transparent barrier rib.