Both teams were bidding for their fourth victory in this competition and it was Waterford who started best and Wexford goalkeeper produced two excellent saves to deny Gavin Falconer and Gary Keane.
However, once Wexford got going they started carving out the better chances and Lee Aust was denied by a brilliant one-handed save from Kevin Burns.
In the second half, David Kennedy and Gareth Wallace both went close before Wexford finally broke the deadlock ten minutes from time when Gareth Wallace's corner from the right picked out the unmarked Shane Dempsey and he powered a header past Burns via the underside of the crossbar.
Waterford threw everything at Wexford after that in search of an equaliser but Mick Wallace's side defended stoutly to become the first team in 25 years to retain the title..
Waterford District League: Kevin Burns (Tramore), Brian Nolan (Bohemians), Colin O'Shea (Tramore), Mitchell Casey (Waterford Crystal), Leo Jacques (Bohemians), Paul Carey (Southend United), Aaron Butler (Bohemians), Eddie Barrett (Bohemians), David Kennedy (Bohemians), Gavin Falconer (Tramore), Gary Keane (Bohemians).
Substitutes: Kenny Purcell (Bohemians) for Barrett (41). Unused: Sam Shanahan (Tramore), Thomas Moore (Tramore), Thomas Moore (Bohemians), Patrick Kennedy (Bohemians), Josh Byrne (Bohemians), Clive Prendergast (Bohemians), Shane Nolan (Bohemians).
Wexford Football League: Pa Doyle (Wexford Youths), Shaun Murray (Wexford Youths), Warren Broaders (Wexford Youths), Keith Kearney (Wexford Youths), Mark Cowman (Adamstown), Chris Kenny (Wexford Youths), Lee Aust (North End United),
Shane Dempsey (Wexford Youths), Danny Furlong (Wexford Youths), Dwane Somers (Wexford Youths), Conor Wallace (Wexford Youths). Substitutes: Gareth Wallace (Wexford Youths) for Somers (36), Darren Sinnot (Wexford Youths) for Aust (57), Shane Sinnot (Rosslare Rangers) for Kearney (88). Unused: William Doyle (Wexford Youths), Gareth McCurtin (Wexford Youths), Paul Giltrap (Shamrock Rovers), Ricky Dwyer (Wexford Youths), Robert Vickers (Ferns United), Aaron Kehoe (Rosslare Rangers), Graham Healy (All Blacks), Kevin Rowe (Wexford Youths). Paul Dempsey (Wexford Youths).