A simple theoretical model for surface acoustic wave (SAW) ΔV/V waveguides on anisotropic crystals is presented. Applying the theory to the waveguides on Y-cut LiNbO3, the dispersion relations are calculated. Experimental results of the velocity dispersion were shown to be in a reasonable agreement with the theory. Although the observation of the SAW field revealed a small discrepancy from the theoretically predicted profile outside the waveguide, it can be concluded that the present model gives a very good approximate method to the study of ΔV/V waveguides on anisotropic substrates.