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Water miscible oil paint (also called "water soluble" or "water-mixable") is a modern variety of oil paint which is engineered to be thinned and cleaned up with water, rather than having to use chemicals such as turpentine. It can be mixed and applied using the same techniques as traditional oil-based paint, but while still wet it can be effectively removed from brushes, palettes, and rags with ordinary soap and water. Its water solubility comes from the use of an oil medium in which one end of the molecule has been altered to bind loosely to water molecules, as in a solution.

There are several manufacturers producing water miscible oil paint, including:

• Grumbacher -- "Max Artists' Oil Colors", produced using alkali-refined linseed oil or sunflower oils.
• HK Holbein -- "Duo Aqua Oil", produced using an activator which alters the structure of the linseed oil.
• Royal Talens -- "Van Gogh H2Oil", produced using a quick-drying, odorless vegetable oil.
• Winsor & Newton -- "Artisan Water Mixable Oil Color", produced using modified linseed and safflower oil.

The Royal Talens and Holbein paints do not use the traditional pigments that are based on cadmium and other heavy metals, which further reduces the toxicity risks of working with them.

Although this type of paint may be thinned with water, artists may prefer to use specially prepared mediums for improved texture and control. These mediums improve flow (i.e. make the thinned paint less runny and more easily controlled), can slow or speed up drying time, etc.