A new application of the Paul wavelet algorithm was presented to determine the refractive index dispersion of a dielectric film from transmittance spectrum in the visible and near infrared region. The developed algorithm was tested by simulated data and experimentally applied to a sample of mica. The obtained refractive index dispersion determined by the Paul wavelet algorithm was compared with the refractive index values determined by the envelope and fringe counting methods, and also with the established result. It was shown that the degree of the Paul wavelet has a major effect on the outcome of a refractive index determination. The noise immunity of the presented method was shown by the simulation study.