In a statement today, Waythamoorthy, who is also a senator, said he would not remain "a minute longer" in his current position if he feels Hindraf is "unable to contribute" to solving the problems of the Indian community in Malaysia.
"The Prime Minister (Najib Abdul Razak) has appointed me primarily to oversee the often forgotten, longstanding, thorny issues affecting the Malaysian Indian community and to resolve them, permanently in line with his Economic Transformation Programme," he said.
"Similarly without fear and favour, we stepped into Putrajaya with genuine and sincere intention to take concrete corrective action.
"If our attempted actions remain futile without any benefit for the community due to direct and indirect obstacles blocking our path, then I am ready to resign," he added.
Waythamoorthy stressed that he did not come to Putrajaya "for the sake of power" and said that position "is not of any significance" to him if he is unable to deliver the desired results.
"My sole purpose and objective are to put into action the Hindraf- BN blueprint," he said.
The blueprint between Hindraf and BN was signed in late April, outlining four major areas that BN, led by Najib, promised to improve while working with Hindraf.