We present an algebraic approach for finding exact solutions of the wave equation. The approach, which is referred to as the Tridiagonal Representation Approach (TRA), is inspired by the J-matrix method and based on the theory of orthogonal polynomials. The class of exactly solvable problems in this approach is larger than the conventional class. All properties of the physical system (energy spectrum of the bound states, phase shift of the scattering states, energy density of states, etc.) are obtained in this approach directly and simply from the properties of the associated orthogonal polynomials.