The team's greatest achievement is reaching the 1898 All-Ireland Senior Football Championship Final, a game which was lost to Dublin by a scoreline of 2–08 to 0–04.

Waterford has not reached a Munster Senior Football Championship (SFC) final since 1960, has not defeated Kerry since 1957, Cork since 1960 and Limerick since 1981.

On 20 May 2007, the team broke a 19-year run without a senior championship win by defeating Clare at Fraher Field, Dungarvan, by a scoreline of 1–06 to 0–07.

Manager John Kiely's starting team consisted of: Tom Wall; Justin Walsh, Thomas O'Gorman, Shane Briggs; John Phelan, Edmond Rockett, Paul Ogle; Mick Ahern, John Hurney; Brian Wall, Gary Hurney, Ger Power; Wayne Hennessy, Andy Hubbord and Liam O'Lonain.

In 2010, after going so close to promotion in previous years Waterford went unbeaten in the league (defeating Leitrim, London, Kilkenny, Limerick, Clare and Wicklow and securing draws against Longford and Carlow), but fell short in the final against Limerick at Croke Park.