He created over 500 works of art for the Marine Corps collection. Waterhouse enlisted in the Marine Corps in 1943 and was among those Marines to land on Iwo Jima in the first wave. On the third day of the battle, he was severely wounded.

After the war, Waterhouse formally studied art and became a successful illustrator.

In 1966, he volunteered for Vietnam as a combat artist. In 1971, Waterhouse received a commission as a major in the Marine Corps Reserve. His first task was to create 14 paintings depicting the Marines in the Revolution for the U.S. Bicentennial. He became the Marine Corps’ artist-in-residence. He served for 21 years, retiring in 1991 as a colonel and soon thereafter began his last project—a tribute to every Marine and Navy corpsman who earned the Medal of Honor.

He continued to paint every day from his studio in New Jersey until his death in 2013.