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Dewey Wayne Waddell was commissioned through the Air Force ROTC Program at Georgia Tech on June 9, 1956, and went on active duty beginning June 3, 1957. Lieutenant Waddell completed Undergraduate Pilot Training and was awarded his pilot wings at Laredo AFB, Texas, in September 1958, and then completed all-weather interceptor training in the F-86 Sabre at Moody AFB, Georgia. He remained as an instructor pilot at Moody AFB until December 1960, and then served as an instructor at Craig AFB, Alabama, from January 1961 to June 1965. Captain Waddell then received an Air Force Institute of Technology assignment to complete his Masters Degree at the University of Southern California from June 1965 to September 1966. After completing F-105 Thunderchief Combat Crew Training, he was assigned to the 354th Tactical Fighter Squadron of the 355th Tactical Fighter Wing at Takhli Royal Thai AFB, Thailand, in April 1967. Major Waddell was forced to eject over North Vietnam and became a Prisoner of War while flying his 47th combat mission on July 5, 1967.

He was released during Operation Homecoming on March 4, 1973, and then attended Air War College at Maxwell AFB, Alabama. Colonel Waddell then remained on the faculty of the Air War College until 1975, when he transferred to the Pentagon and worked on the Department of Defense Joint Service Committee on Air Munitions Standardization from 1975 to 1979. His final assignment was as director of U.S. Air Force Emergency Plans for the Eastern United States at Dobbins AFB, Georgia, from 1979 until his retirement from the Air Force on October 27, 1987. Colonel Waddell served as President of NAM-POWs Corp, the Organization of former Vietnam Prisoners of War, from 1981 to 1984.
- Silver Star (2)
- Legion of Merit (2)
- Distinguished Flying Cross
- Bronze Star (2)
- Prisoner of War Medal