A souvenir edition has been published which includes the original front page and a letter of congratulations from The Queen.
The issue also marks the start of year-long multi-platform project called 200 voices.
It will feature columns from 200 "remarkable people who have played a major role in the nation".
Award-winning poet William Letford has also produced a special work to mark the 200th anniversary.
The first edition of the paper was published on 25 January 1817.
It was founded by lawyer William Ritchie and customs official Charles MacLaren.
The paper's original premises were at 257 High Street on the Royal Mile in Edinburgh. It now has its headquarters on Queensferry Road in the capital.
In a letter to the Scotsman, The Queen writes: "Please convey my congratulations to all those on the newspaper's staff and my good wishes to your readers in Scotland, and elsewhere, as you mark this significant anniversary."
Scotland's First Minister Nicola Sturgeon has also sent her congratulations, writing: "The Scotsman occupies a special place in Scottish journalism, and I commend its staff, past and present, for all the work they have done in ensuring its success over so many years."
The newspaper's owners, Johnston Press, said the special edition marked the start of a year-long calendar of celebrations "showcasing both the paper's rich heritage and looking ahead to the publication's future, shining a light on the digital innovations across the brand's platforms".
Ian Stewart, editor at The Scotsman, said: "For two centuries The Scotsman has been at the heart of Scotland as a nation, covering the breaking news stories that have shaped our past and influenced our future; and we're incredibly proud to be part of that story.
"The celebrations that have kicked off today are just the beginning, with various events and editorial initiatives still to come throughout 2017.
"We very much look forward to taking our readers on this journey with us, as we take our step together into the third century of The Scotsman as Scotland's national newspaper."
The Scotsman newspaper is marking exactly 200 years since the publication of its first edition.