Waterville, a town of Kennebec co., Maine, on the W. bank of the Kennebec river, at Ticonic falls, and on the Maine Central railroad, 18 m. N. N. E. of Augusta; pop. in 1870, 4,852. It was divided in 1873, and in 1876 contained about 4,000 inhabitants. The falls afford a large water power, which is only partially used. The town contains the machine shops of the railroad company, a cotton factory of 30,000 spindles, two saw mills, a tannery, a shovel-handle factory, a flour mill, a shirt factory, and one manufactory each of doors, sash, and blinds, of furniture, of machinery and castings, and of boot shanks. There are four national banks, one savings bank, a weekly newspaper, seven public schools, and six churches. Waterville is the seat of Colby university, under the control of the Baptists; it was established as a literary and theological institution in 1813, and incorporated as Waterville college in 1821, and as Colby university in 1867. There are five fine college buildings. The regular course is similar to the ordinary four years' course of American colleges, but select courses may be pursued. The university library contains about 12,600 volumes, and the literary fraternity has a library of about 1,500. In 1875-6 there were 8 professors and 91 students, of whom 8 were females.

The Waterville classical institute is conducted as a preparatory department.