Still Waiting is the seventh track on Prince's second album Prince, and, five months after the album's release, Still Waiting was released as the album's third single. Unusually, the original vinyl version of the album contained a version of the track with a longer fade-out, some 12 seconds longer than on later releases. In 1980, the track was included as the b-side of Bambi, the album's fifth single (Prince's first to be released in Belgium and the Netherlands).
While specific recording dates are not known, the album sessions took place from late April to late May 1979 at Alpha Studios in Burbank, California. Overdubs and mixing took place at Hollywood Sound Recorders in Los Angeles, California.