The aim of the present research is to study the effects of titanium dioxide (TiO₂) and dye concentrations on the optical characteristics of the rewritable media. The influences of TiO₂ and dye concentrations on the optical characteristic and time response were investigated under various applied voltages and voltage cycles. The brightness change during each experiment was recorded in the motion JPEG mode and data analysis was done with a personal computer program. The optimal concentrations of TiO₂ and dye were found at 6 and 0.2–0.3% w/w, respectively, which yielded a good result of black-white contrast. The time response decreased when increasing the applied voltage, TiO₂, and the dye concentrations. The applied voltage also affected the optimal black-white contrast. The present work suggests that rewritable paper can be improved when the optimal conditions of the paper are achieved.