"I am a passionate Waikato man and am eagerly looking forward to contributing to the success of Waikato rugby."
Walters' varied coaching resume will also see him provide valuable input at grassroots level.
"Having spent a number of years coaching at club and age group level I am looking forward to helping develop this area of Waikato rugby. I have many established relationships in Waikato rugby and I am excited to be able to use these to better the game in the region at all levels."
Waikato coach Chris Gibbes sees Walters as the ideal replacement for outgoing backs coach Scott McLeod, who has joined the Highlanders Super Rugby coaching staff.
"John is a quality addition to the Waikato Rugby Union staff and brings a wealth of coaching and playing experience to our team management," Gibbes said.
"I am excited to work alongside John and Carl Hoeft as we look to defend the Ranfurly Shield and challenge for the ITM Cup in 2013."