As one recent evaluation puts it, "Waley was the great transmitter of the high literary cultures of China and Japan to the English-reading general public; the ambassador from East to West in the first half of the 20th century. He was self-taught, but reached remarkable levels of fluency, even erudition, in both languages. It was a unique achievement, possible (as he himself later noted) only in that time, and unlikely to be repeated." 
His importance for raising awareness and scholarly attention to the English speaking world is considered immense, reaching a wider popular readership with later re-publications in classics series.
Waley was born in Tunbridge Wells, Kent, England, as Arthur David Schloss, son of economist David Frederick Schloss. Of Jewish heritage, he changed his surname to his paternal grandmother's maiden name, Waley, in 1914, as one of many English men and women who changed German surnames to more English-sounding names during WWI. Educated at Rugby School, he entered King's College, at the University of Cambridge in 1907, where he studied Classics, and was awarded a bachelor's degree in 1910.
Waley was appointed Assistant Keeper of Oriental Prints and Manuscripts at the British Museum in 1913. During this time he taught himself Chinese and Japanese, partly to help catalogue the paintings in the Museum's collection. He quit in 1929 to devote himself fully to his literary and cultural interests, though he continued to lecture in the School of Oriental and African Studies, London.
Waley lived in Bloomsbury and had a number of friends among the Bloomsbury Group, many of whom he had met as an undergraduate. He was one of the earliest to recognize Ronald Firbank as an accomplished author, and together with Osbert Sitwell provided an introduction to Firbank's first collected edition.
Noted American poet Ezra Pound was instrumental in getting Waley's first translations into print in The Little Review. His view of Waley's early work was mixed, however. As he wrote to Margaret Anderson, the Review's editor, in a letter of 2 July 1917: "Have at last got hold of Waley's translations from Po chu I. Some of the poems are magnificent. Nearly all the translations marred by his bungling English and defective rhythm... I shall try to buy the best ones, and to get him to remove some of the botched places. (He is stubborn as a donkey, or a scholar.)" Yet Waley, in his Introduction in his translation of The Way and its Power, explains that he was careful to put meaning above style in translations where meaning would be reasonably considered of more importance to the modern Western reader.
Waley was elected an honorary fellow of King's College, Cambridge in 1945, received the Commander of the Order of the British Empire (CBE) honor in 1952, the Queen's Gold Medal for Poetry in 1953, and the Order of the Companions of Honour (CH) in 1956.
Jonathan Spence wrote of Waley's translations that he
- selected the jewels of Chinese and Japanese literature and pinned them quietly to his chest. No one ever did anything like it before, and no one will every do it again. There are many westerners whose knowledge of Chinese or Japanese is greater than his, and there are perhaps a few who can handle both languages as well. But they are not poets, and those who are better poets than Waley do not know Chinese or Japanese. Also the shock will never be repeated, for most of the works that Waley chose to translate were largely unknown in the West, and their impact was thus all the more extraordinary. 
His many translations include A Hundred and Seventy Chinese Poems (1918), Japanese Poetry: The Uta (1919), The No Plays of Japan (1921), The Tale of Genji (published in 6 volumes from 1921-33), The Pillow Book of Sei Shōnagon (1928), The Kutune Shirka (1951), Monkey (1942, an abridged version of Journey to the West), The Poetry and Career of Li Po (1959) and The Secret History of the Mongols and Other Pieces (1964). Waley received the James Tait Black Memorial Prize for his translation of Monkey, and his translations of the classics, the Analects of Confucius and The Way and its Power (Tao Te Ching), are still regarded highly by his peers.
These translations are widely regarded as poems in their own right, and have been included in many anthologies such as the Oxford Book of Modern Verse 1892-1935, Oxford Book of Twentieth Century English Verse and Penguin Book of Contemporary Verse (1918-1960) under Waley's name. Many of his original translations and commentaries have been re-published as Penguin classics and Wordsworth Classics, reaching a wide audience.
Despite translating many Chinese and Japanese classical texts into English, including much poetry and several philosophical works, Waley never travelled to the Far East. In his preface to The Secret History of the Mongols, he writes that he was not a master of many languages, but claims to have known Chinese and Japanese fairly well, a good deal of Ainu and Mongolian, and some Hebrew and Syriac.
|Wikisource has original works written by or about:
- A Hundred and Seventy Chinese Poems, 1918
- More Translations from the Chinese (Alfred A. Knopf, New York, 1919).
- Japanese Poetry: The Uta, 1919. A selection mostly drawn from manyoshu and kokinshu.
- The Nō Plays of Japan, 1921
- The Temple and Other Poems, 1923
- The Tale of Genji, by Lady Murasaki, 1925-1933
- The Pillow Book of Sei Shōnagon, 1928
- The Way and its Power: A Study of the Tao Te Ching and its Place in Chinese Thought, 1934. A commentary on Tao te ching, attributed to Laozi, and full translation.
- The Book of Songs (Shih Ching), 1937
- The Analects of Confucius, 1938
- Three Ways of Thought in Ancient China, 1939
- Translations from the Chinese, a compilation, 1941
- Monkey, 1942, highly abridged translation of Wu Cheng'en's Journey to the West
- Chinese Poems, 1946
- The Nine Songs: A Study of Shamanism in Ancient China, Yuan Qu, 1955
- Yuan Mei: Eighteenth Century Chinese Poet, 1956
- Ballads and Stories from Tun-Huang, 1960
- Introduction to the Study of Chinese Painting, 1923
- The Life and Times of Po Chü-I, 1949
- The Poetry and Career of Li Po, 1950 (with some original translations)
- The Real Tripitaka and Other Pieces, 1952 (with some original and previously published translations)
- The Opium War through Chinese Eyes, 1958
- The Secret History of the Mongols, 1963 (with original translations)
- Jonathan Spence. "Arthur Waley," in, Chinese Roundabout (New York: Norton, 1992 ISBN 0393033554), pp. 329-336. 
- "Arthur Waley, 76, Orientalist, Dead; Translator of Chinese and Japanese Literature," New York Times. 28 June 1966.
- Gruchy, John Walter de. (2003). Orienting Arthur Waley: Japonism, Orientalism, and the Creation of Japanese Literature in English. Honolulu: University of Hawaii Press. 10-ISBN 0-8248-2567-5.
- Waley, Alison. (1982). A Half of Two Lives. London: George Weidenfeld & Nicolson. (Reprinted in 1983 by McGraw-Hill.)
- Morris, Ivan I. (1970). Madly Singing in the Mountains: An Appreciation and Anthology of Arthur Waley. London: Allen & Unwin.
- Jones, Francis A. (1968). A Bibliography of Arthur Waley. New Brunswick, New Jersey: Rutgers University Press.
- E. Bruce Brooks, "Arthur Waley" Warring States Project, University of Massachusetts.
- Waley's translation of The Way and its Power
- Works by Arthur Waley at Project Gutenberg