Waterville is a city of 1,800 people in southeastern Quebec, Canada, in the Coaticook Regional County Municipality.

Prior to January 1, 2002, it was in La Région-Sherbrookoise Regional County Municipality, and was the only member of that RCM that did not amalgamate into the expanded city of Sherbrooke on that date.

Waterville owes its existence to water-power, harnessed first by a sawmill (1810) and subsequently by several other industries, which attracted its initial British, Loyalist and American population in 1870.

Convinced by merchants in Quebec City, Joseph Pennoyer collected seven tons of hemp at his sawmill, intended for the manufacture of British ship cords.

Aside from the rubber, plastic moulding and woodworking factories, Waterville is also host to a number of interesting buildings: the mansard-style Gale family residence, now the Foyer Waterville; the Anglican church on the corner of Principale and Compton Ouest; a covered bridge dating from the second half of the 19th century; and the Ball residence, a Queen-Anne style house which belonged to the founders of the Dominion Snath company, once a North American leader in scythe handle production.