In response to the national “dual-carbon” strategic goals, a dual-mode ocean energy generation device was researched. First, improvements were made to the power generation system and mechanical structure of an oscillating buoy with a radius of 2.5 m, designing a power generation device that utilizes both wave energy and tidal energy. Subsequently, wave generation was carried out using the Realizable k-ε turbulence model, and the buoy’s strength was analyzed using the Ansys Fluent simulation platform with finite element analysis, with simulation results indicating a rational design. Then, the Froude–Krylov hypothesis method and the oscillating buoy body decomposition method were used to calculate the combined force in the vertical direction of the buoy, and combined with other forces, the maximum wave force on the buoy was determined. It was verified that the buoyancy of the buoy met the requirements of the hydraulic system. Finally, the hydraulic power generation system model was simulated and analyzed using AMEsim, yielding a power generation of 55.2284 kW. Using a formula, the maximum power generation of a single buoy was calculated to be approximately 15.5 kW, and the ideal maximum power generation of the entire device was able to reach 101.7284 kW.
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