Crowe famously led New Zealand to the semifinals of the 1992 World Cup where they lost to Pakistan by four wickets in Auckland.
Despite the loss, Crowe was named the player of the tournament.
Waddle said regardless of whether he leads them to victory or not, nothing can take away the brilliance of Williamson and the men in black.
"[Williamson] is a man who is unflappable, he is organised, he is in control of himself and therefore in control of the game," he said.
"It's his team and he's playing the cricket the way he wants to play it and you cannot argue with that because they're in the final of the World Cup.
"Anything that gets you to the final of the World Cup means you've had a successful tournament."
Coach Gary Stead to some extent and veteran batsman Ross Taylor are also partly behind the success of the Black Caps this World Cup, Waddle said.
Of Taylor, Waddle said he has played a major role not only with the bat but helping with the teams' development as well.
Those betting on the final have England as favourites, with the New Zealand TAB paying $1.30 to $3.35 head to head for an English victory.
However, it said 70 per cent of the money placed on the final has been towards the Black Caps, including one of $10,000 for New Zealand to win.
Waddle said England are favourites to lift the Cup without a doubt but it's not all bad news for New Zealand.
"It's going to be a tough task, we know that," he said, "they [New Zealand] will be the underdogs.
"Favouritism sits with England at the moment but favouritism sat with India and look what it did for them.
"There are very good reasons why we shouldn't discount New Zealand and feel confident that they have the side that can take a victory out of this."
He said a performance similar to that of the semifinal against India was needed to topple the English at Lord's.
Scoring runs at the top of the order is crucial for the Black Caps who, despite the hostile environment, have competed well throughout the Cup.
"They're going to win it by playing better cricket, consistent cricket, by dealing with the difficult situations that might occur", Waddle said.
"The [semifinal] was as good a game of cricket, and as good a result, as I can remember.
"I'm looking forward to something similar on the biggest occasion, bearing in mind they were at the final of the last World Cup."