Wave-to-Wire models play an important role in the development of wave energy converters. They could provide insight into the complete operating process of wave energy converters, from the power absorption stage to the power conversion stage. In order to cover a set of relevant nonlinear effects, wave-to-wire models are predominately established in the time domain. However, the low computational efficiency of time-domain modeling is hindering the extensive application of wave-to-wire models, especially in early-stage design and optimization where a large number of iterations are required. To address this issue, a spectral-domain wave-to-wire model is proposed, and the nonlinear effects are incorporated by stochastic linearization. This model can significantly reduce the computational load and maintain good accuracy. The reference concept studied in this paper is defined as a heaving point absorber coupled with a linear permanent-magnet generator. Four representative nonlinear effects involved in both the hydrodynamic stage and the electrical stage of the concept are considered. The proposed model is verified against a corresponding nonlinear time-domain wave-to-wire model, and a good agreement is observed. The relative error of the proposed spectral-domain wave-to-wire model is around 2 % in typical operational regions and is still within 7 % for wave states with large significant wave heights, regarding the estimate of the power conversion efficiency. Meanwhile, the computational load of the spectral-domain wave-to-wire model is reduced by 2 to 3 orders of magnitudes compared with the conventional time-domain approach. Finally, a case study of tuning the PTO damping to maximize power production is conducted to demonstrate the performance of the proposed spectral-domain wave-to-wire model.