Waterloo railway station is a railway station serving the town of Waterloo in Merseyside, England, on the Northern Line of the Merseyrail network.

Waterloo railway station opened on 24 July 1848 as the original southern terminus of the Liverpool, Crosby and Southport Railway (LC&SR) when it opened its line from here to Southport Eastbank Street.

The terminus was located on the north side of South Road and an engine shed was located a short distance to the south of the station on the seaward side of the line.

A correspondent writing in the Liverpool Mercury in 1849 commented that the station had "a platform with an ample shed that were well built, admirable and worthy of the importance of the line", the facilities had improved "strikingly" since opening and it now had "good waiting rooms, comfortable furniture and a well arranged pay office" (presumably the booking office), there was even a temporary refreshment shed with genuine Eccles cakes.

Unfortunately this admirable situation did not prevail for long, another correspondent in the Liverpool Mercury in 1855 complained that the "waiting room had been dismantled of its furniture", had its "floor covering removed" and become a "neglected spot" frequented by porters and others.

Whilst the station was the southern terminus of the railway a horsedrawn omnibus service was operated to Tithebarn Street in Liverpool city centre. 74 trips were run each day with an average of 14 passengers per journey. When the LC&SR opened a booking office in Dale Street the journeys were extended to there.

When the line was extended south towards Liverpool on 1 October 1850 a level crossing was installed at South Road and the engine shed was relocated to the east side of the line just north of South Road.

The original station site became a goods and mineral depot, there was a goods shed and a five-ton crane. The goods yard closed on 27 November 1967.