Ocean wave energyOcean wave energy isWave Energy Converter (WEC) ubiquitousComputational Fluid Dynamics (CFD) simulation models in nature and holds a pivotal role in significantly contributing to the green energy sources that the modern world is looking into. Because it is mostly untapped, the technology to extract the energy, commonly known as the wave energy converter (WEC)Wave Energy Converter (WEC), is relatively naive than other renewable energyRenewable energy sources. In this review, we systematically introduce the theoretical background behind the physical process, followed by numerical methodsNumerical methods and simulation to address the shortcomings of the available analytical models. We primarily focus on the hydrodynamics concerning wave interaction with the devices, the shortcomings and advantages of different methods, and comparative analysis. Although theoretically and experimentally, this technology has the required potential to harness wave energyWave energy, it is still budding. Our study gives an overview of the limitations of the commercialization of this technology.