Waveland is a town in Brown Township, Montgomery County, Indiana, United States. The population was 420 at the 2010 census.
Waveland was platted by John Milligan in 1835. The settlement began as a resting place at a good spring between Terre Haute and Lafayette, Indiana. After a trading post and post office were established, Milligan developed the surrounding property. By 1850, the town had three general stores, three churches, two inns, two wagon shops and a blacksmith. Waveland was the boyhood home of American Impressionist T. C. Steele. His parents, Samuel and Harriett, moved to the thriving settlement when Steele was five years old, around 1852. Steele's father rented a saddle shop from John Milligan. Young Steele was enrolled in the outstanding Waveland Academy. The Presbyterian Church had recognized the need for higher learning in this community and provided a new brick building for the education of children. Steele family records show that, until 1870, they owned the cottage at 110 Cross Street in Waveland, built on one of Milligan's lots.
Waveland is located at 39°52′42″N 87°2′35″W / 39.87833°N 87.04306°W / 39.87833; -87.04306 (39.878330, -87.042937).