Edgar Waters was a scholar, folklorist and social historian. His childhood in Casino was overshadowed by the Depression and the death of his father, Eric, a bush worker. His mother, Thelma Matilda Lancaster, worked as a cleaner to raise the family. Waters was educated at Casino High School and Sydney University. He joined the Australian Communist Party but resigned in 1957, prompted by the Soviet invasion of Hungary in 1956.
After editing Rebel Songs in 1947 with Stephen Murray-Smith (q.v.), Waters worked at the State Library of New South Wales, where he met Russel Ward (q.v.). Ward suggested that Waters undertake a recording of Joe Cashmere, a bushman, singer and musician who knew a wealth of songs. Waters later travelled to London where he studied British and Irish folklore. He returned to Sydney, joining Peter Hamilton in the founding of Wattle Records.
Field collections were of great interest to Waters. He instigated the publication of Australian Traditional Musicians and Singers, compiled by John Meredith, and Australian Traditional Musicians and Singers in Victoria. Waters encouraged institutions such as the National Library to build collections of Australian folklore. After teaching at the University of Papua New Guinea, he was a consultant to the National Library's oral history and folklore collections.