Permanent Wave is a 1929 animated film which is presented by Carl Laemmle and is produced by Walter Lantz. The film, which was written and animated by Walter Lantz, Bill Nolan and Tom Palmer, features Oswald the Lucky Rabbit rescuing a mermaid, whom he has fallen in love with, from his captain on the ship that Oswald is controlling during the film.

Copyrighted on July 26, 1929, and released on September 29 the same year, the film was released by Universal Pictures, and thus, is part of Universal series of the Oswald the Lucky Rabbit films.