Gravitational waves (GWs), the propagating perturbations within the structure of spacetime, provide a unique window into the dynamics of massive celestial objects and their cataclysmic events such as binary black hole (BBH), black hole – neutron star, binary neutron star (BNS) merger. While the detection and analysis of GWs have significantly advanced our understanding of the universe, the exploration of their information content, specifically their entropy, is not well studied and remains an intriguing avenue of research. This article presents an application of the concept of entropy to GWs and its implications for astrophysics. By using masses of the detected GW sources provided by open-source Gravitational Wave Open Science Center (GWOSC) and the PyCBC library, we generated GWs using different models and approximations. Specifically, we employed three different waveform models: IMRPhenomPv3, IMRPhenomPv2_NRTidal, and IMRPhenomXPHM. After generating GWs with different models we investigated the relationship between entropy and the masses of GW sources. Besides varying values in different models, entropy nearly exponentially decreases while the total mass of the systems providing those GWs increases. Additionally, different waveform models demonstrated varying levels of entropy. This study opens avenues for further research on the underlying physics of GWs and their detection and classification methods.