He was the son of Count Philip Dietrich of Waldeck-Eisenberg and his wife Maria Magdalena of Nassau-Siegen.
He married in 1660 Elisabeth Juliane, a daughter of Count Philip VII of Waldeck-Wildungen.
His coat of arms and those of his wife and the number 1642 are evidence of this renovation.
Wolrad Henry was on his way to join the troops against the Ottoman Empire, when he suddenly died in Graz.
Since he had no male heir, Waldeck-Eisenberg fell to his uncle George Frederick.