A paper cup with a hand grip has a cylindrical cup body with an open upper end to accommodate beverages and a hand grip attached to an outer wall of the cup body and a pair of ring-shaped portions. The ring-shaped portions are symmetrically disposed on right and left ends of the contact portion and each include a through hole through which a user puts a finger when grasping the hand grip. The ring-shaped portions are movable between a first position where they are attached to the outer wall of the cup body and a second position where the ring-shaped portions face each other. In this way the paper cup can be stably and conveniently grasped to prevent a beverage in the paper cup from being shaken and overflowing, even when a hot or cold beverage is filled in the paper cup.