Spaceborne high-resolution synthetic aperture radar (SAR) is a potential powerful tool for rainfall pattern and intensity observations over the sea surface. However, many interesting rain-related phenomena revealed by SAR images are still not fully understood due to poor theoretical modeling of the rain–wind–wave interactions. This paper attempts to develop a physics-based radiative transfer model to capture the scattering behavior of rainfall over a rough sea surface. Raindrops are modeled as Rayleigh scattering nonspherical particles, whereas the rain-induced rough surface is described by the Log-Gaussian ring-wave spectrum. The model is validated against both empirical models and measurements. A case study of collocated Envisat ASAR data and NEXRAD rain data is presented to demonstrate the performance of the newly developed model. Finally, numerical simulation results suggest that rain-related scattering becomes significant as compared with wind-related scattering when the frequency is above C-band, whereas the raindrop volumetric scattering becomes significant above X-band.