Abstract: Being confronted with the severity of the energy and environment problems, the world attaches more and more importance to the potential of wave energy. Based on the necessity and feasibility of wave power development, the basic principles of wave energy converter are in this paper firstly. Then some kinds of WEC’s principle, merits and drawbacks, technology application are reviewed, such as OWC, raft, Tapchan, point absorber, Salter, pendulum. After that, wave energy developing conditions in some typical countries are recommended. After reviewing the features of various wave energy converters and WEC application examples in some countries, prospect and a few problems in wave energy utilizing are stated briefly.