Recently, with the enhancement of marine environmental protection, the permeable breakwater, which has the advantages of a simple structure, good water permeability, and environment-friendly, has been paid more and more attention. This study experimentally investigated the hydrodynamic characteristics of a twin vertical baffles underflow breakwater in a wave flume. Different parameters including the relative submergence, relative blockage, breakwater width, and water surface condition between baffles have been considered. Their influences on the transmission coefficient, reflection coefficient, relative wave run-up on the front baffle, and energy loss rate of the twin vertical baffles underflow breakwater have been analyzed. Furthermore, the wave resonance phenomenon could occur for the cases with free water surface between the two baffles, which had a significant influence on the hydrodynamic characteristics of the breakwater. Finally, an empirical formula for calculating the transmission coefficient has been given based on the experimental data.