Waldegrave was the second son of John Waldegrave, 3rd Earl Waldegrave, and Elizabeth. Joining the navy at age 13 in 1766, Waldegrave rose rapidly through the ranks, receiving his own command, the sloop HMS Zephyr in 1775, and being promoted to vice-admiral in 1795. He was the third in command on the British side at the Battle of Cape St Vincent in February 1797, and was offered a baronetcy for the role he played in the battle. Waldegrave declined the offer, and was appointed the Governor of Newfoundland, Saint-Pierre and Miquelon, on 16 May 1797. During Waldegrave's time as governor, he was chiefly concerned with military matters, as a French squadron had burned Bay Bulls just a year prior, and Newfoundland was still quite exposed. Another key problem was desertion, as soldiers deserting to Newfoundland were generally sheltered by the island's inhabitants. A naval mutiny occurred shortly after Waldegrave's appointment and had to be stopped; Waldegrave also took steps to ensure that soldiers garrisoned in St. John's did not try anything similar. In military matters, he was often at odds with his commander, Lieutenant-Colonel Thomas Skinner. Waldegrave made several attempts to restrict the power of the merchants on Newfoundland, and also to bring law and order to the island. Although his efforts against the merchants were largely ineffective, Waldegrave was successful in having a chief justice appointed who would reside year round. Waldegrave also undertook various humanitarian projects, especially to help the poor. He established a "Committee for the Relief of the Poor", and contributed generously to the fund. Between 1797 and 1798, nearly 300 people received assistance from this fund. Waldegrave finished his term as governor in 1800 and was created an Irish peer as Baron Radstock, of Castletown in the Queen's County. In 1802, upon his retirement, Waldegrave was promoted to full admiral. In 1815 he was appointed a Knight Grand Cross of the Order of the Bath.
Family
Waldegrave was married in 1785 to Cornelia Jacoba van Lennep. They had three sons and six daughters: