Sean Boyd scored for the third consecutive match to keep Shelbourne top of the SSE Airtricity Men's Premier Division table.
Introduced as a 61st-minute substitute, the big striker got the only goal of the game 11 minutes later to earn what was only Shelbourne's second win in 10 games and keep Damien Duff's side a point clear of Derry City at the summit.
It was Boyd’s fifth goal of the season, his first an equaliser in the first meeting of these sides at the RSC on the opening night, soon after which he was sent off.
The result was tough on Waterford goalkeeper Sam Sargeant who had made a string of brilliant saves to keep Waterford, who hadn’t lost in their previous three visits to Dublin this season, in the game.
With four changes from last week’s disappointing 1-1 home draw with Drogheda United, Shelbourne manager Duff demanded more energy from his side and they were at it from the off here.
Sean Gannon had an appeal for a handball by Robbie McCourt not entertained while seconds later John Martin won a tackle to then collect a clever back heel from Matty Smith and bring a terrific tip over save from Sargeant.
The Blues keeper was there again to rescue his side on seven minutes, alertly out from his goal to save at the feet of Smith who had been put through one-on-one from skipper Mark Coyle’s incisive pass.
Having weathered the early Shels onslaught, Waterford played their way into the game, threatening for the first time on 20 minutes. Conor Parsons cut in from the right to thread a ball through for the run of Dean McMenamy whose drive was blocked by Gavin Molloy.
It was the 37th minute before Shelbourne regained their early impetus.
Clever feet from Smith saw him work several one-twos across the edge of the Waterford area to set up Will Jarvis whose shot was bravely deflected out for Shels’ fourth corner of the night by Grant Horton.
Smith was then guilty of lobbing wide with Sargeant on the ground after the keeper had spilled a ball over the top from Coyle under pressure from Evan Caffrey.
The home side then had a let off with McMenamy shooting into the side netting after Shels failed to clear a long clearance from Sargeant.
In a lively end to the half, McMenamy worked Conor Kearns in the home goal before Caffrey ballooned an effort over the top at the other end when he should have hit the target.
Some Jarvis magic finally sparked the second-half to life just before the hour mark. The winger outfoxed two defenders if his shot then lacked the venom to trouble Sargeant.
The English man then weaved in off his left flank past several challenges to see his deflected shot turned round a spot by Sargeant.
The Blues' keeper excelled again to touch away Boyd’s header from yet another Shels corner.
But his heroics would count for nothing as Shelbourne finally beat him on 72 minutes.
Caffrey and Jarvis worked the ball into Boyd who spun Horton to skilfully slip the ball low into the far corner of the net.
Waterford didn't lie down and came close to levelling on 88 minutes.
Substitute Gbemi Arubi bounced a header goal-ward from Horton’s cross which Paddy Barrett brilliantly cleared off the line before Padraig Amond brought a save from Kearns right at the death.
Shelbourne: Conor Kearns; Sean Gannon, Paddy Barrett (Lewis Temple 90), Gavin Molloy, Kameron Ledwidge; Mark Coyle, JJ Lunney (Liam Burt 61); Matty Smith (John O’Sullivan 77), Evan Caffrey, Will Jarvis (Tyreke Wilson 90); John Martin (Sean Boyd 61).
Waterford: Sam Sargeant; Darragh Power (Gbemi Arubi 87), Kacper Radkowski (Harvey Macadam h-t), Grant Horton, Robbie McCourt, Darragh Leahy; Rowan McDonald, Dean McMenamy (Ben McCormack 73); Connor Parsons (Christie Pattisson 62), Padraig Amond, Maleace Asamoah.
Referee: Rob Harvey (Dublin).
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