The winger arrives at Tallaght from Bray Wanderers and has revealed his delight at joining the Hoops for the new campaign
The 23-year-old joins the club from Bray Wanderers, where he spent the previous six seasons, and has revealed his delight at joining the Hoops.
"I am absolutely delighted to have signed for Shamrock Rovers," he told the club's official website. "It's the biggest club in the country.
"There has been interest in me from the manager for me for a while now, but it had to be the right time for me to make this move and I feel that it is now.
"I've been a Shamrock Rovers fan since I was a child and so I am intent on working hard and giving my all for this club."
Waters, who scored four goals in 32 league appearances last season, paid tribute to his former club and thanked Seagulls boss Pat Devlin for his support during his time with the club.
"I would like to thank everyone at Bray Wanderers for all the support they have given me over the last six years," he said.
"I really enjoyed my time at the club and wish them the best. I'd especially like to thank Pat Devlin for all his support.
"I'm just looking forward to getting going now and to kicking a football again."