Between now and December 170 automatic barriers will be installed at the entrance to all main line platforms and in the subway connecting the overground platforms with the tube station.
Network Rail says that the new barriers will play a major part in helping to combat fare evasion and will improve the overall station environment.
To make way for the new gate line retail units between the concourse and the platforms are being removed.
"Waterloo is one of Britain's busiest stations and our work to install ticket barriers has been planned to limit disruption to passengers," says David Pape of Network Rail.
"We look forward to carrying out this upgrade and will be working closely with South West Trains to deliver the benefits that the new gates will bring."
The new barriers are likely to be an interim measure with a major rebuilding of Waterloo Station expected within the next decade which will move the concourse to ground level and extend the platforms closer to Waterloo Road.
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