Both the teams found it difficult to create enough scoring opportunities in the first half.
After a barren opening half, the Waveriders finally broke the deadlock in the 42nd minute when tall Rupinder Pal Singh brilliantly converted their first penalty corner past an ever-alert PR Sreejesh in front of UP Wizards goal.
Kiwi Sreven Edwards (59th) then scored a field goal in the penultimate minute of the match to extend the Waveriders lead to 3-0 as per the scoring system one field strike is counted as two.
By virtue of this win, the Waveriders have moved to the top with 10 points from two games. The Delhi outfit had earlier defeated Jaypee Punjab Warriors 5-4 in their tournament opener.
UP Wizards are placed second with seven points from three games.
UP Wizards will next host Kalinga Lancers here on January 25 while the Waveriders will travel to Ranchi to play defending champions Ranchi Rays on January 26.