Abstract: A gift wrap dispensing system includes a roll of gift wrapping that is retained within an enclosable carton. The roll of gift wrapping is in the range of approximately 10-16 inches in length and includes a rigid cardboard tube on which a supply of wrapping paper is wound. The wrapping paper includes a decorative film, such as a holographic or metallized film, that is bonded onto a coated paper substrate using a layer of bonding material. The carton is preferably constructed from a unitary cardboard blank and includes a bottom panel, a front panel, a rear panel and a pair of side panels which together define a longitudinal cavity which is sized and shaped to receive the roll of gift wrapping. The carton additionally includes a lid that is pivotally coupled to the rear panel and that is designed to be pivoted between an open position and a closed position. In order to dispense a supply of wrapping paper, the lid of the carton is pivoted at least partially open.