Transaction privacy has attracted a lot of attention in the e-commerce. This study proposes an efficient and provable fair document exchange protocol with transaction privacy. Using the proposed protocol, any untrusted parties can fairly exchange documents without the assistance of online, trusted third parties. Moreover, a notary only notarizes each document once. The authorized document owner can exchange a notarized document with different parties repeatedly without disclosing the origin of the document or the identities of transaction participants. Security and performance analyses indicate that the proposed protocol not only provides strong fairness, non-repudiation of origin, non-repudiation of receipt, and message confidentiality, but also enhances forward secrecy, transaction privacy, and authorized exchange. The proposed protocol is more efficient than other works.