The Dragons travel to second placed Ulster before a home clash with Munster and a trip to Murrayfield to take on Edinburgh complete their season.
After leading the side against the Scarlets last time out, Andrew Coombs again captains tonight with Welsh back rowers Dan Lydiate and Toby Faletau also starting.
Threy combine with the returning Waters who has impressed in the Principality Premiership recently.
"Darren has been hugely missed and the timing of his injury couldn't have been worse - there was a big opportunity for him after Gavin Thomas retired last season," head coach Darren Edwards said of the 28-year-old.
"While he was out we found Nic Cudd and that means we have got two great sevens going into next year. Darren has worked so hard to come back and stood out in the Premiership. Now we have to create some competition."
Elsewhere, Edwards keeps faith with the young centre pairing of Pat Leach and Jack Dixon. They start outside Dan Evans at fly-half who produced a man of the match performance against the Scarlets at the Millennium Stadium last time out.
On the bench, Andy Tuilagi returns from a hamstring injury with Hugh Gustafson, Nathan Williams and Adam Jones all set to make an impact as replacements.
Ulster will be looking to keep up the pressure on league leaders Glasgow. Irish winger Tommy Bowe makes his first start since December for the Ravens.