No. Canon Digital Photo Professional 4 does not have a built-in watermark feature.

A possible workaround inside DPP is to use its compositing tool after you finish editing, but it is awkward and inefficient for normal watermarking. The basic idea is to export your edited image, then combine it with a separate watermark image. In practice, this is much less convenient than using software that supports watermarking directly.

So if you need to add image or text watermarks regularly, DPP 4 is not the right tool for that task; you'll want to use another editor for the watermark step.