We introduce a highly accelerated T1-weighted MP-RAGE acquisition that utilizes a novel reordering scheme and Wave-CAIPI encoding to retain high image quality. R=9-fold accelerated in vivo MP-RAGE scans were performed in 71 sec, with maximum and average g-factor of gmax=1.27 and gavg=1.06. Compared to the state-of-the-art 2D-CAIPIRINHA method, this is a factor of 4.6/1.4 improvement in gmax/gavg. In addition, we demonstrate a 57 sec acquisition at 7T with R=12-fold acceleration. This acquisition had a g-factor performance of gmax=1.15 and gavg=1.04. Wave encoding overcomes the g-factor noise amplification penalty and allows for an order of magnitude acceleration of MP-RAGE acquisitions.