With the deepening of global energy crisis, looking for the new energy to replace traditional energy becomes the only way for the development of energy. This paper designs a new oscillating water column ocean wave power generation device. It introduces the basic composition of the device and its structure, and its working principle and process. Combining the wave theory and calculation principle, the hydrodynamic matching criteria in wave generating system, wave power conversion efficiency theory, air dynamics theory, we analysed and calculated the energy conversion efficiency of the device. Suppose the device is under the action of linear wave, through the theoretical calculation, the theoretical efficiency of this device is up to 0.364 when the wave period is 4 s, wave height is 0.5 m, buoy side length is 0.3 m, wind pipe diameter is 0.05. Compared with common wave power generation device, this device has higher power generation efficiency.