Waterloo is a locality in Pyrenees Shire approximately 9 kilometres (5.6 mi) north of the town of Beaufort, Victoria and 162 kilometres (101 mi) west north west of the state capital of Melbourne.

[1] Following the gold rush, Waterloo became a settled defined township with stores, a primary school, hotels and a public hall.

Today there are 110 people in the area living on farms that were once part of the Waterloo township.

The locality is the birthplace of Ernest Chinnery (5 November 1887- 17 December 1972), an Australian anthropologist and public servant who worked extensively in Papua New Guinea and visited communities along the Sepik river.

During World War I many men from Waterloo served in the 57th Battalion, 2nd Reinforcement of the Australian Army.