Paul Petter Waldenström (alternately spelled "Paul Peter") (20 July 1838 – 14 July 1917) was a Swedish theologian who became the most prominent leader of the free church movement in late 19th century Sweden.
Waldenström was born in Luleå in northern Sweden, son of a district physician. He began his academic studies at Uppsala University in 1857, completed his Ph.D. degree there in 1863, and was ordained a priest in 1864. He had been employed as an adjunct in the Växjö högre allmänna läroverk (the secondary school in Växjö) already in 1862 and in 1864, when his doctorate qualified him for this, received a lecturership in Christianity, Greek and Hebrew at the secondary school in Umeå. From 1874 until 1905 he was lecturer in the same subjects at the secondary school in Gävle. He was awarded a Doctor of Theology degree from Yale University in 1889 and was awarded the laurel for a second time as a jubeldoktor ("jubilee doctor") in Uppsala in 1913.
Although he worked as a school teacher his whole life, Waldenström's notability comes from his work as a theologian, editor of Christian periodicals, and a preacher. He was long a leading member of the Swedish Evangelical Mission (Evangeliska fosterlandsstiftelsen), a movement within the state church, but was among those who left the organization in 1878 to form the Swedish Mission Covenant (Svenska missionsförbundet, since 2003 the Mission Covenant Church of Sweden, the Svenska missionskyrkan), which long had an ambivalent relationship to the state church, torn between the relative moderation of Waldenström and the greater radicalism of the first president Erik Jakob Ekman (1842–1915) and his followers. After Ekman's resignation in 1904, Waldenström became the president of the society. In 1868 he began editing Pietisten ("The Pietist"), which was a publication associated with the free church movement. This proved to be very influential both in Sweden and abroad; in America, the Evangelical Covenant Church was greatly influenced by his life and writings.