Installing stern energy-saving devices can help conserve energy and enhance ship speed, particularly for medium-to-high-speed ships. This study focuses on a waterjet-propelled ship and examines the performance of two energy-saving devices: the interceptor and stern flap. The investigation involves conducting a comparative analysis through towing-tank experiments and utilising Reynolds-averaged Navier–Stokes (RANS) numerical methods. The findings suggest that incorporating energy-saving devices alters the capture flow of the waterjet-propelled ship. Furthermore, these devices reduce ship resistance, resulting in a maximum decrease in the impeller speed of the self-propulsion point up to 5%. Following the installation of energy-saving devices, the propulsion efficiency of the waterjet-propelled ship demonstrates an enhancement ranging from 0.5% to 5.7%. This increase in propulsion efficiency emerges as a principal factor contributing to the energy savings facilitated by the stern energy-saving device. Upon comparison, it was found that within the Fr range of 0.3–0.5, the stern flap exhibited a superior energy-saving effect. Conversely, when Fr exceeded 0.5, the interceptor demonstrated a more pronounced energy-saving effect. Finally, the mechanisms of the stern energy-saving devices are elucidated based on the momentum velocity coefficient, thrust deduction fraction, and changes in the internal and external flow fields of the waterjet-propelled ship.