Waterloo Road Junction is a junction on the Wolverhampton Inner Ring Road. It is the only major junction along the route that does not meet a classified road, although Waterloo Road through the junction was classified as part of A449 until the 1970s.

It is a busy traffic light-controlled crossroads that, in common with all the junctions along A4150, has reserved space for grade-separation, in this case for rotational traffic. Since the junction was constructed, the approach roads have all been widened and some of the reserved space has been used.

Whilst the junction itself was constructed along with the Inner Ring Road, it was built at the site of the earlier junction between Waterloo Road, Bath Road and Wadham's Hill - the latter of which no longer exists.