This paper proposes a new-wavelet-based synthetic aperture radar (SAR) image despeckling algorithm using the sequential Monte Carlo method. A model-based Bayesian approach is proposed. This paper presents two methods for SAR image despeckling. The first method, called WGGPF, models a prior with Generalized Gaussian (GG) probability density function (pdf) and the second method, called WGMPF, models prior with a Generalized Gaussian Markov random field (GGMRF). The likelihood pdf is modeled using a Gaussian pdf. The GGMRF model is used because it enables texture parameter estimation. The prior is modeled using GG pdf, when texture parameters are not needed. A particle filter is used for drawing particles from the prior for different shape parameters of GG pdf. When the GGMRF prior is used, the particles are drawn from prior in order to estimate noise-free wavelet coefficients and for those coefficients the texture parameter is changed in order to obtain the best textural parameters. The texture parameters are changed for a predefined set of shape parameters of GGMRF. The particles with the highest weights represents the final noise-free estimate with corresponding textural parameters. The despeckling algorithms are compared with the state-of-the-art methods using synthetic and real SAR data. The experimental results show that the proposed despeckling algorithms efficiently remove noise and proposed methods are comparable with the state-of-the-art methods regarding objective measurements. The proposed WGMPF preserves textures of the real, high-resolution SAR images well.