WAVEWAT is a new processing algorithm to suppress the on-resonance water signal in NMR spectra. It is based on a multiresolution analysis (MRA) of the free induction decay (FID) using a dyadic discrete wavelet transform (DWT). The width of the suppressed signal can be adjusted so that signals close to water are recovered without distortion of the signal shape and intensity. Computational efficiency is comparable to that of convolution filters employing a Fourier transform.