Waterfall is an unincorporated community on the west coast of Prince of Wales Island in Prince of Wales-Hyder Census Area, Alaska, United States, approximately 60 miles (97 km) west of Ketchikan.

The primary industry was Waterfall Cannery, built in 1912 as a salmon processing facility.

The cannery closed in 1973 and was renovated into the Waterfall Resort, a sport fishing lodge.

Waterfall is not connected to the island's road system; visitors to the resort arrive by floatplane from Ketchikan.

This article about a location in the Prince of Wales–Hyder Census Area, Alaska is a stub.