Founded in 1930, Waterford AFC was elected to the League in the same year. They spent two seasons in the League before dropping out for two years. The club returned to League football in 1934/35 and in 1941 they finished joint top of the table with Cork United.

A Play-off was arranged at the Mardyke in Cork but the club failed to fulfill the fixture. The title was awarded to the Cork club and Waterford dropped out of the League for another four years, returning at the start of 1945/46.

Waterford went on to win the League Title on six occasions, all during the club's golden era of the sixties and seventies. The club became known as Waterford United in 1982 and in 1993 they moved from their old home, Kilcohan Park, to their current home ground at the RSC. Before the 2017 season Waterford dropped the United from their name after coming under new ownership.

League Champions: Six times
1965/66, 1967/68, 1968/69, 1969/70, 1971/72, 1972/73.

First Division Champions: Four times
1989/90, 1997/98, 2002/03, 2017

FAI Cup Winners: Twice
1937, 1980.

League Cup Winners: Twice
1973/74, 1984/85