This paper presents UnderwaterVLA, a novel framework for autonomous underwater navigation that integrates multimodal foundation models with embodied intelligence systems. Underwater operations remain difficult due to hydrodynamic disturbances, limited communication bandwidth, and degraded sensing in turbid waters. To address these challenges, we introduce three innovations. First, a dual-brain architecture decouples high-level mission reasoning from low-level reactive control, enabling robust operation under communication and computational constraints. Second, we apply Vision-Language-Action(VLA) models to underwater robotics for the first time, incorporating structured chain-of-thought reasoning for interpretable decision-making. Third, a hydrodynamics-informed Model Predictive Control(MPC) scheme compensates for fluid effects in real time without costly task-specific training. Experimental results in field tests show that UnderwaterVLA reduces navigation errors in degraded visual conditions while maintaining higher task completion by 19% to 27% over baseline. By minimizing reliance on underwater-specific training data and improving adaptability across environments, UnderwaterVLA provides a scalable and cost-effective path toward the next generation of intelligent AUVs.