In 1824 Waterloo was renamed HMS Bellerophon. She formed part of an experimental squadron, which were groups of ships sent out in the 1830s and 1840s to test new techniques of ship design, armament, building and propulsion.
She served as flagship to Rear Admiral Sir Charles Paget from 1836 to 1838.[3]
Her only meaningful military activity was the bombardment of Sebastopol in June 1854 during the Crimean War.[4]
She was placed on harbour service as a receiving ship in Portsmouth in 1856, and was sold in 1892 to J. Read jr. for breaking up.[1]