As sustainable and eco‐friendly replacements to conventional paper, rewritable paper is a very attractive alternative for communication, information circulation, and storage. Development is made for rewritable paper using chromogenic materials that change its color in presence of external stimuli. However, the new techniques have faced several major challenges including feasible operational method, eco‐friendly approach. Herein, a simple, convenient, and eco‐friendly strategy is described for the preparation of rewritable paper substrate, and multi colored ink for efficient use in writing, painting or printing purpose. In addition, writing with “invisible ink” on the rewritable paper can be realized for potential anti‐counterfeiting application. The written, painted, or printed information on the paper substrate can be easily erased using an aqueous solution. Thus, the original paper can be retrieved and the paper substrate can be reused multiple times. Besides, the written or printed information can be retained for a prolonged time at ambient conditions. Overall, this approach shows the rewritable paper as a prototype of multicolor writing/painting application, offering a sustainable solution for reducing paper waste and promoting environmental stewardship.